Platinum began to catch up with other precious metals

25.02.2019 / 09:14

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Platinum - Daily Technical Analysis Our expectations:

Platinum is the only precious metal who has been left behind, but this may be is about to change. The precious metal lags behind Gold, Silver and Palladium. Despite the negative fundamentals, we have reason to think that the other metals will pull the platinum and we will witness a bull run in the near future. The price breakthrought the first and main diagonal resistance and is now pointing to the next one. From here, we can look for a breakthrough over the area of around $860, and in case that this level holds and the price returns for correction, we'll wait for a test of the break around $818 to build long position.

Indicators:
Breakthrough 50 and 200SMA
The price is going for a test of 38.2% Fibo.

Trader Georgi Bozhidarov

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Platinum began to catch up with other precious metals

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