. There is a possibility of temporary retracement to suggested support line (797.31). if so, traders can set orders based on Price Action and expect to reach short-term targets.
. Platinum/ USDollar is in a range bound and the beginning of uptrend is expected.
. The ascending flag taking shape suggests we will soon see...
Likely to see a consolidation next to this bottom reversal pattern as shown on the the Daily chart on the left.
on the right we see the 4hour chart where the price moves inside a descending channel giving a bullish divergence on the MACD , touching a buy zone of good support that has a bottom on 950 .
The analysis predicts a 2% downward spike movement. However, I am already waiting for the exchange rate. The white dashed line is the ATR axis of wave movements. Which have functioned as resistance axes so far. I look forward to this now. Target price increase is 915 usd.
Platinum to Palladium ratio at historical low inside a descending terminal wedge. Key signal that higher Platinum and lower Palladium prices are due in the next phase of the move.
Long Platinum and Short Palladium here.