Category Archives: Platinum – Daily


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



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


The broad bearish outlook :

After completing a leading expanding diagonal as wave i, Platinum is likely retracing up in corrective wave (ii). The following impulsive third wave down of the same degree is probably ahead.

The broad outlook remains bearish against the 1188.2, towards the level of 984.6.

Platinum - Daily-1