Platinum @ critical resistance.
After breaking through some tough resistance, Platinum now faces a multi decade downtrend line.
Looking @ it's impressive run over the last weeks, it's probably time for some consolidation or small pull back to support.
I personally would keep a close eye on Platinum for the coming weeks, a weekly close above 1000 would open up the door to more upside.
For now I would wait to let it settle and make some kind of topping structure.
Monthly Chart
Weekly Chart
30-min Chart
Possible set-up to make a short stab? Looks like a H&S pattern, however trading of a 30-min chart in a volatile environment is kind of tricky.
Looking @ it's impressive run over the last weeks, it's probably time for some consolidation or small pull back to support.
I personally would keep a close eye on Platinum for the coming weeks, a weekly close above 1000 would open up the door to more upside.
For now I would wait to let it settle and make some kind of topping structure.
Monthly Chart
Weekly Chart
30-min Chart
Possible set-up to make a short stab? Looks like a H&S pattern, however trading of a 30-min chart in a volatile environment is kind of tricky.
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.