Category Archives: Platinum – Daily

Platinum

Trend Reversal :

As shown on the daily chart, the January extreme at 811.4 remains intact, as a significant low. Hence, Platinum should have concluded its Medium-term bear trend.

Unfolding a five-wave sequence of Minute degree against the downtrend, will confirm the Medium term trend-change.

Platinum - daily

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Platinum

The bearish outlook :

After developing a leading diagonal as wave i then its correction in wave ii, Platinum may have started its way down in impulsive wave iii of (iii) of the minute degree wave c.

The outlook remains bearish now against the 1164, towards the new lows.

The close target is 1064, where wave iii equals 1.618 times the length of diagonal wave i. The next target is 1002, where wave iii equals 2.618 times the length of wave i. The broader target is 984.6, as extreme point of the ongoing wave (iii).

Platinum - Daily