Hmmm , the signs of strength fail to unfold in platinum , the high volume at the supportish level, wich holds price
above it , shows some buying activity , as price stays above the level , yet no one is follwoing price any higher
the first rally after the high vol. spike at support , stopped at the middle point of the range at 1540
the second rally failed to make a new high
the third rally attempt ??? well its still on , so we dont know yet where this halts..
but at this supportish level with this buying activity we should think that price should start a rally
but it fails to show the strength ... this pot. strenght wich isnt conformed is actually a sign of weakness!
however we make no significant downward progress too
a buying opportunity would only be present if we take out the upper channel line and make a higher low
however a short woulod be much more interresting if we break support significantly , as all potential longs
would most likely puke the shit out of it.. which will propell platinum , way down till 800ish! as we have enough space to the downside!
will be interresting to see how that situation resolves itself!
above it , shows some buying activity , as price stays above the level , yet no one is follwoing price any higher
the first rally after the high vol. spike at support , stopped at the middle point of the range at 1540
the second rally failed to make a new high
the third rally attempt ??? well its still on , so we dont know yet where this halts..
but at this supportish level with this buying activity we should think that price should start a rally
but it fails to show the strength ... this pot. strenght wich isnt conformed is actually a sign of weakness!
however we make no significant downward progress too
a buying opportunity would only be present if we take out the upper channel line and make a higher low
however a short woulod be much more interresting if we break support significantly , as all potential longs
would most likely puke the shit out of it.. which will propell platinum , way down till 800ish! as we have enough space to the downside!
will be interresting to see how that situation resolves itself!