SPPP bottoming for multi year retrace
https://www.tradingview.com/x/8b5JfnaX
Several fundamental drivers backing the physical market of platinum and palladium such as institutional positioning, supply constraints, new deposit discoveries declining and misunderstood demand drivers across industrial market. Technicala offer a fairly simple setup based on a multi-year trendline starting from 2016 and a fib retrace to pull the price inline with established trend offering an initial target in coming years between 14 and 16. Additionally we can observe the RSI over the monthly chart turning up above the previous pre2020 lows.
Several fundamental drivers backing the physical market of platinum and palladium such as institutional positioning, supply constraints, new deposit discoveries declining and misunderstood demand drivers across industrial market. Technicala offer a fairly simple setup based on a multi-year trendline starting from 2016 and a fib retrace to pull the price inline with established trend offering an initial target in coming years between 14 and 16. Additionally we can observe the RSI over the monthly chart turning up above the previous pre2020 lows.
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