Here is an update regarding my previous recommendation to go long on platinum. I am still holding my positions and 2 below charts will explain why.
On the daily chart ,
We have very critical support level at 927$ , So we might see a rebound here targeting 980$ and 1010$ and It will be explained using the 4h chart.
we have 927$ playing as support many times on the daily chart going back to 23 sep 2015 and two times during feb 2016.
On the 4h chart shown below , we have a trend line starting at 1200$ area and passing by many tops .
we expect a rebound from 930$ till 983$ next week by 19/10 ...If trend line broken on that test , we will get to 1010$ area .
If we didnt see a rebound by next week and test on 19/10 , we will see a test of trend line probably at 960$ area on 27-10
On the daily chart ,
We have very critical support level at 927$ , So we might see a rebound here targeting 980$ and 1010$ and It will be explained using the 4h chart.
we have 927$ playing as support many times on the daily chart going back to 23 sep 2015 and two times during feb 2016.
On the 4h chart shown below , we have a trend line starting at 1200$ area and passing by many tops .
we expect a rebound from 930$ till 983$ next week by 19/10 ...If trend line broken on that test , we will get to 1010$ area .
If we didnt see a rebound by next week and test on 19/10 , we will see a test of trend line probably at 960$ area on 27-10
