Platinum: High trending test. Don't miss the opportunity

8 апр. 2019 г.

Platinum is approaching important crossroads on 1M. Trading on a long term 1M Channel Down (RSI = 50.828, MACD = -31.030, Highs/Lows = 27.2071), the very bullish 1W leg is closing in on the Lower High of the 1M Channel Down on overbought 1D action (RSI = 73.845). Technically we should be expecting a rejection towards the 1M Support Zone. But since this Support Zone has been holding since October - December 2008, and only recently tested (August 2018 - Feb 2019) for the second time in 10 years, it is not unreasonable to expect that at some point a strong break out from the bearish trend will happen. So if 940.50 breaks, we will be going long with TP = 1,000.




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