Platinum broke above descending trend-line. Price is coiling. Possible breakout in the near future (Comex Session). Bias to the upside. Seems to have found support around $930 (tested three times) after price sold off $60 last week. Still up almost 10% on the month, outperforming both silver and gold.
Link showing commodity price comparison.
prntscr.com/p4os35
I mentioned the initial breakout in a previous idea.
Link showing commodity price comparison.
prntscr.com/p4os35
I mentioned the initial breakout in a previous idea.
Note
15 min chart. Price coiling below resistance.Note
After a little choppy price action, we did get our break higher. Price currently stalled at 0.682 fib (from last weeks drop). Expect a move upwards to the 0.5 fib level which looks like a fairly strong resistance level. Could see a pullback around there.Note
Expecting Platinum to break through 960 resistance zone soon. Conservative target $975.
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Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.