PLATINUMTINUM ($) – bullish break­out

Trend: Medium term up. Short term neu­tral. Strat­egy: Buy on a pull­back to­wards line 3.

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Plat­inum has bro­ken out of a large chan­nel (lines 1 and 2), but not al­to­gether con­vinc­ingly yet. Hav­ing pulled back (in the short term) to test sup­port lines 2 and 3, the price is vul­ner­a­ble to an­other short-term pull­back to line 3 at $1 168 (spot clos­ing price) be­fore mov­ing up again in earnest. • The daily rel­a­tive strength in­dex (RSI, on top) is neu­tral but can have an­other dip to its over­sold level be­fore re­vers­ing up again. • The gen­eral strat­egy how­ever is to buy pull­backs. There­fore, buy a pull­back to­wards line 3 ($1 168), but wait for a sign of it re­vers­ing up off/near line 3 be­fore en­ter­ing. • The medium-term up­side tar­get is $1 370, which is mea-

sured as the height of chan­nel 1-2 pro­jected up. • When buy­ing on a pull­back to line 3, place your ini­tial

stop-loss as a clos­ing price be­low $1 160 (spot price).

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