Take shorting profits lower down. The platinum price broke to the downside of a symmetrical triangle (lines 1 and 2) shown in this column a few weeks ago. (At the time the breakout could have been in either direction.) The minimum downside target is US$1 635, as measured by the height of the triangle projected down. That target also coincides with line 3 support. The only potential positive here is the stochastic, which is oversold, which indicates that a rally isn’t too far off – but most likely only after it reaches line 3. If you sold short as per our recommendation some weeks back, look to cover your shorts – ie, take profits (buy them back) – as the price gets to the $1 635 target at line 3. (Note: It’s possible the price will drop slightly further than that – eg, to $1 590 – but at our target it will be a decent short-term profit.) Long term, precious metals are still positive – but gold is stronger than platinum.