Platinum broke above descending trend-line. Price is coiling. Possible breakout in the near future (Comex Session). Bias to the upside. Seems to have found support around $930 (tested three times) after price sold off $60 last week. Still up almost 10% on the month, outperforming both silver and gold.
I mentioned the initial breakout in a previous idea.
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15 min chart. Price coiling below resistance.
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After a little choppy price action, we did get our break higher. Price currently stalled at 0.682 fib (from last weeks drop). Expect a move upwards to the 0.5 fib level which looks like a fairly strong resistance level. Could see a pullback around there.
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Expecting Platinum to break through 960 resistance zone soon. Conservative target $975.
Thanks for the analysis and the tip. Please improve the visibility by changing the contrast colors, (white background), or by selecting the proper dark theme colors. Thanks again.
But..... I've become quite partial to my grey chart theme (easy on my eyes). :) I increase the transparency of the trendlines / channels (I find it less distracting to see overall chart patterns / price action) (also prevents them from showing up on white background, unless I modify every one on every chart.
Are the current charts hard to see even after opening them in full screen? They look fine on my screen.
Anyhow, just for you, the chart I just updated in the comments.... :)
@cccpKGB1, Much better in full black! Thanks. I'm sure the rest of the users will appreaciate much better the charts thanks to the contrast increase. Have a nice day.