Recently platinum has broken the downtrend, and made a nice upward move setting up this golden cross on the weekly chart, its as simple as that.. upsides can be expected as a result of this. Happy New Year from Australia :D
Pattern: Channel Up on 1M. Signal: Bullish as the price is approaching the Higher Low zone of the pattern. Target: 950 (below the 1D Resistance) and 990 (below the 1W Resistance).
Here's requested TA for one of our V.I.P members. We're don't trade this CFD so this is purley technicals on the fly. Plat is one where you have a falling wedge that could develop and a break above the upper trendline that could be of interest. For now its choppy and the risk is in the immediate future since we're still declining in the longtime time frame and...
Jez what crazy PA!!! This is not financial advice. Personally I am going long and buying the higher higher highs- cuz that’s what ballers do. What is presented above it if PL DOES in-fact do what my research says it should.
Platinum (PL), Monthly chart: 15 years long(!) support zone + Divergence on RSI(14) + Harami candle pattern. BUT we didn't break resistance line yet
Pattern: 1D Head and Shoulders. Signal: Bullish as the price has touched the Support of the neckline. Potential rebound towards the Resistance but tight trade due to the bearish momentum. Target: 870.00 (top of the neckline and symmetrical Resistance).
Open Sell near $876 - $866 - Price broke down key level $876 after huge accumulation - Entry after pullback will be with low risk
Pattern: Channel Up on 1D. Signal: Bullish as long as 866 holds. Target: 930.00 (the next Resistance on 1W). * If 866 breaks be ready to short to 833.00.
Pattern: Ascending Triangle on 1D. Signal: Bullish as the price made a Higher Low. Target: 874.00 (the 1D Resistance Zone).