Bullish Setup in Platinum

posted in: Platinum | 0

After making a marginal new low for 2017 at $891.40 on July 11th, amid multiple bullish momentum and volume divergences, the much beleaguered precious metal called platinum has found itself on the verge of greatness again:


Platinum (Daily – 3 Year)


Greatness would be had by a daily close above $950 which would trigger a breakout from a multi-month descending triangle targeting support/resistance near $1100. With platinum ending the week near $940, the official confirmation that platinum is heading back over $1,000/ounce might have to wait until the final week of July.


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