Platinum nearing resistance on the 4H?
I sold my puny amount of platinum on the 4th when we approached the orange trendline, which is a resistance line from the previous rally before the pandemic. Recently we've had 4 reactions with this trendline acting as resistance and you'll notice we failed to reach the top of the channel (blue) in the last three upward swings. So is this the moment this resistance is breached? I don't know. Is this the moment platinum is rejected around 1267 and starts to form a pattern resembling an ascending wedge? I don't know that either. I'm super new to this so I don't know anything. But just in case I took some money off the table while I hold in SLV and pick up more IAU, at least until we have a break above this line, and confirmation of the uptrend.
Looks like divergence of MACD on the 4H chart but the 1D looks good! Advice welcome!
Looks like divergence of MACD on the 4H chart but the 1D looks good! Advice welcome!
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