- A fake break below the bullish channel?
- RSI is away from oversold territory - might bounce if the pattern holds
- Overall, daily chart says bullish momentum remained - upside remain constructive
- a bounce off 1016 level maybe all it needs before another trade higher
- Trade according to the large channel but AB=CD pattern is also confirming the move
- A rebound to 1074 attracts potential interest for shorts to reload
- Risk is 20 while the target is for a retest on the psychological level at 1000
- Risky to bet against the current trend but market looks overbought in the short term
- Price remains constructive to trade higher within the rising bullish channel
- Overhead resistance approaching near 1080 - 1100 price levels
- Weekly RSI is bullish but overbought - look out for the 100 weekly MA currently at 1121 for resistance too
- Looking for a short trade at the top of the bullish channel which coincide with 38.2% Fibo move from 2014...
looking for confirmation on a 3rd higher low of 3 in the XPTUSD bull run. Stop out level is higher than the first highest high as well as near R1 stop for monthly level. 1000 area has proven to be strong resistance. I would suggest a averaging in price of 995, ranging maybe from 990 to 1000 area for asks. I think the white triangle should play out to allow the 50...
Platinum along with other precious metals started a bull market around february. After two attempts to climb above 1000, we are now at the third of these tops and heading towards correction. I still believe the primary trend is upwards and support will be met with 50MA around 960.
Note that last three new moons (blue spots) market peaked and reached bottom around...
I will go into details soon. But first the most important: if I am right, and there is a bull flag developing in Platinum daily chart, the breakout would have very serious consequences. A flag break and bullish continuation could have a measured target of 1175-1200!!! Spot Price is ard 952 now (July futures trades ard 954,5)
- After the shorter term...
Longer term bullish but currently swing short based on a shark pattern (shown) and also a 5 wave advance, looking for a 3 wave correction at least back into the proximity of wave 4 low before looking to scale in long again