Last night I took a short trade on platinum which reversed at 875. This is a resistance level from 25th June and 6th November last year. It also coincides with what looks like the top of a price channel. Unless it bounces at 850, I can see a see an initial target of 830 where I would expect some fairly strong resistance but with a final target around 800.
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.