Platinum - Daily Technical Analysis Our expectations:
Breakthrough key diagonal support, followed by test of the level, provides a good opportunity for entering long positions with a close stop and a good risk/reward ratio.
Platinum is the only precious metal, has been left behind, but this is about to change. The precious metal lags behind Gold, Silver and Palladium. The fundamental changes and we have reason to think we will see new bull run in the near future. Price breakthrough the first and main diagonal resistance and now returned for correction, stepping over the level and staying above dynamic support 50SMA. From here we can start building long positions.
Indicators:
Test oф 50SMA the price holds above. The price remains below 200СМА.
False breakthrough 50% Fibo, possible new upward movement.
DeMarker on neutral territory.
SL: 804.
Alternative Scenarios: Break below 804 will probably send the price to test the bottom
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