Well, that was quick! AMEX:PPLT reached its #rectangle price target 1 day after the breakout. i pointed out this breakout yesterday.
Broke out today on good volume. Minimum price pattern target identified on the chart. Platinum formed 2 months classical #rectangle chart pattern with a breakaway gap in today's session. Expecting higher prices heading towards #rectangle price target.
Seems like a long term downtrend can break. If it will continue sideways or continue to rise is to early to say. My entrance is 88,8. Lets hope it breaks the 97-100 range. It will then have the potential to become a long term trend to ride. Just an ealry warning :) But maybe smart to wait for confirmation above 97-100.
Major turn is under way at PPLT. Looks an interesting buying opportunity.
Platinum is looking ready to explode (go look at my Platinum chart) and PPLT is slowly following platinum. I'm bullish over the medium-term
Cup and handle bottom pattern breaking out in Platinum.
During the last financial collapse, platinum was in the spotlight and formed a bubble that burst. Today, we're near a decade low. Yet if you look at the MACD, RSI, Accumulations/Distribution, you see some nice bullish divergence indicating some accumulation potentially going on. We'll see some sort of recession within the next 10 years (I know this isn't rocket...
Friends, A quick synopsis on this metal, coming to a cycle completion of the Geo: 1 - Price hit Predictive/Forecasting Model's qualitative target, defined at 98.27 on June 22nd; 2 - A "Warning Level" at this institutional weekly level may offer solid support and ground for reversal, here defined at 91.98; 3 - A large geometry defined by the "Geo" meets...
SETUP for a Swing Trade with 5 to 1 and 10 -1 risk reward. ENTRY Range, Initial STOP, and 2 different Target levels listed on Chart. Any Questions happy to answer how I use this setup to make consistent profits. Setup= 1. Bollinger Band extreme with strong bullish candle followed by 2 days closing above that candles low. Pattern has repeated again and again. ...