$PL1! Platinum Futures. Bear flag breakBear flag break on the daily chart and and $850 target looks likely.
TPL1! trade ideas
F/U on Platinum Still looks bullish to me. IFFF this wave count is correct there is likely more up movement to come. (But personally I don't trade just on EWT , as I am least likely correct). But today the price has broken up above the current down trend channel. There also is a positive reversal in the daily RSI. And the US Dollar index is still trending down.
I personally do not trade futures. For this I use PPLT.
Platinum Futures it will go up long tradePlatinum Futures will go up long trade but will take a few weeks to a month.
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Platinum Futures: Time to change direction to bullish?Platinum is at a long term log down trend line from 2008. With the US dollar now falling I favor this line will soon be broken and uptrend begin. Technical observations that support this idea are: 1. Bullish divergence in the monthly RSI. 2. Huge up volume on the last price drop (seen monthly chart). Volume spikes often occur at tops and bottoms. 3. Less important but I think the EWT count is favorable. They may be a brief pullback before a up surge but maybe not.
I see the first target at about 1320, but IFFFFF analysis is correct it may someday exceed the 2300 high.
Take care. Process and trade your way.
Feedback always welcome.
