Category Archives: Platinum – Weekly

Platinum

Bullish View :

After a [W – Triangle X – Y] correcting down, sharp turn up since Jan. 21 would indicate the trend change in Platinum’s medium-term.

According to this bullish count, the January low at 811.4 should be held and retrace up over the triangle X span is anticipated now.

Platinum - Weekly

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Platinum

According to the bullish count on this weekly chart, unfolding a [W – Triangle X – Y] formation (since August 2011), would suggest an impending trend change in Platinum’s medium-term.

The wave structure of Intermediate-degree wave (B) may have completed, however there is no any indicating reversal move yet.

Platinum - Weekly

Platinum

Medium- term bear trend still in place :

On this weekly frame of Platinum, the wave counts explain the decline from the 1918.5 high, in an extensive W- Triangle X – Y formation as Intermediate wave (B), which its latest wave as Minor wave Y is extending to lower.

Based upon this explanation, the outlook remains bearish through the anticipated target at 952.9, where Y = W.

Platinum - Weekly

Platinum

An explanation of the ongoing sequence on the weekly chart :

In a bearish view on this frame of weekly chart, on the [ A – Triangle B – C ]  formation as the ongoing subsequent of supposed sequence (B), wave C could still be extended to lower levels.

The expected fibo-expansion target for the wave C, could be around the 953 level where establishes an equality ratio with the wave A.

An alternative on the ongoing [ A – Triangle B – C ] formation :

On the second chart, an alternate count has been shown, for when on the [ A-Triangle B-C ] formation in progress, the first wave be considered as a three-waves subsequent. And hence, adjusting the wave count to a sequence W -Triangle X – Y .

Platinum - WeeklyPlatinum - Weekly-1

 

Platinum

An explanation of the ongoing sequence on the weekly chart :

In a bearish view on this frame of weekly chart, it appears that on the [ A – Triangle B – C ]  formation as the subsequent of supposed sequence (B), wave C could still be extended to lower.

The expected fibo-expansion target for the wave C, could be around the 953 level where would be established an equality ratio with the wave A.

An alternation on the ongoing [ A – Triangle B – C ] formation :

On the second chart, an alternate count has been shown, for when on the A-Triangle B-C  formation which is likely completing, the first wave be considered as a three-waves subsequent. And hence, adjusting the wave count to a sequence W -Triangle X – Y .

Platinum - Weekly

Platinum - Weekly 1

Platinum

In a bearish view on the weekly chart frame, it appears that on the  A – Triangle B – C  formation as a possible wave (B), wave C could still be extended to lower.

The expected fibo-expansion target for the wave C, could be around the 953 level where would establish an equality ratio with the wave A.

An alternation on the ongoing formation :

On the second chart, an alternate count has been shown; for when on the A-Triangle B-C  formation which is likely completing, the first wave be considered as a three-waves subsequent. And hence, adjusting the wave count to a sequence W -Triangle X – Y .

Platinum - WeeklyPlatinum - Weekly 1