Only charts

I have been recommending going ling on platinum lately. It managed to rebound to 951$. It is still facing some resistance at 945$ and it is not able to close above 945$ on the 4h chart. Buy platinum if you are not already long , your stop loss should be on closing below 936$ on the 1h chart. Platinum retreated after touching he 200 moving average on the 1 chart. I think we might see a strong rebound to the area between 970-980$ in the coming days.

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

The metals have been sliding since last week and platinum is no exception. However it looks very supported around 945$ and it looks like a nice chance to go long on metals now ahead of the FOMC minutes later today. Platinum has strong resistance at 970$ ahead of 1012$ . Platinum has been not able to stabilize above critical level at 1064$ and it has been a very good short position. Looking on larger scale , international economy is not doing well and the banking sector is facing alot of challenges. So metals are always a good hunt if we are going into risky mood. A weekly close below 940$ area will open the road towards 895$ .