Platinum is on its way downwards to develop wave Y in light green and still has got room to expand. Indeed, there is a 30% chance that the price could even drop into the green zone between $758 and $659, establishing the low of wave Alt.Y in light green instead. Primarily, though, we expect platinum to turn upwards before reaching the green zone.
The trend of Platinum USD on the 1D time frame is showing a reversal. Firstly you can see a downtrend in the form of LH and LL then at the bottom, you can observe the HH and HL which is a sign of trend reversal or consolidation phase. So you can buy from here by putting a stop loss at the LL point mentioned in the chart.
Hello friends, today you can review the technical analysis idea on a 1D linear scale chart for Platinum.
The chart is self-explanatory. Platinum price made multiple attempts to get back above the 0.618 Fibonacci Retracement level but was rejected and now headed back down. Platinum price may be supported by the Multi-month support line. If it fails there then...
