Platinum is breaking out on weekly and daily time scale our of ascending triangle and channels with big volumes.
multiyear breakout possible with high certainty as geopolitical situation will change the things for long as low trust environment (which is not new) but now with attack on Iran, and Ukrain Russian prolonged war and support to Ukraine by many big countries will change the relation for long, specially high tech items, metals and minerals.
Target based on rounding bottom pattern for multiyear breakout. In future it can surpass gold given its ornamental value and almost zero metal loss due to scratching over time.
multiyear breakout possible with high certainty as geopolitical situation will change the things for long as low trust environment (which is not new) but now with attack on Iran, and Ukrain Russian prolonged war and support to Ukraine by many big countries will change the relation for long, specially high tech items, metals and minerals.
Target based on rounding bottom pattern for multiyear breakout. In future it can surpass gold given its ornamental value and almost zero metal loss due to scratching over time.
Trade active
Retracement was pending after a big move and it is there which is almost touching the ascending triangle breakout line and 10 days EMS, should take support here. Sell volume is big and so the price drop, if takes support from here, further upside as described or possible consolidation for some more time which is natural and should happen.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.