- Incredible Opportunities In Precious Metals Right Now
- Platinum Sets Up For A Big Breakout Gold Poised To Continue Rally
- Silver Is Still In The “Super-Hero” Setup
- Rally Hinges On The Platinum Breakout Above $1,050.50
Platinum may be setting up in a technical pattern that is similar to the end of 2001/early 2002. At that time, Gold had already begun to rally above $340 and Platinum had rallied to levels above $600. Then, while Gold continued to rally, Platinum contracted to price levels near $400 on diminishing volume. Once that contraction was complete, Platinum began and upside price move with stronger volume levels which lasted almost seven years – reaching a peak above $2,300. Could the same setup be happening right now?
The upside price move in Gold may be the key to understanding the potential for an upside price move in Platinum. Gold has already rallied from $1,340 to over $1,000 over the past 12+ months while Platinum has moved lower from $2,000 to $800 and has recently started forming a rounded bottom formation. The deep price decline in Platinum in March 2020 setup a very deep low near $562. We believe the diminishing volume and deep low bottom setup in Platinum are mirroring the 2002 deep bottom setup and starting a potentially strong rally for Platinum.
This Platinum Monthly chart below shows the 2000 to 2010 rally, including the 2002 deep bottom setup and volume setup, suggests that once Platinum rallied above the previous high price level near $641, the opportunity for a continued upside price rally was consistent. We believe the basis for this move was the continued upside price rally in Gold. As Gold began to appreciate, Platinum continued to appreciate and trend higher – following Gold’s lead.....Continue Reading Here
Platinum Mirroring Gold – Just Like It Did In 2003
The upside price move in Gold may be the key to understanding the potential for an upside price move in Platinum. Gold has already rallied from $1,340 to over $1,000 over the past 12+ months while Platinum has moved lower from $2,000 to $800 and has recently started forming a rounded bottom formation. The deep price decline in Platinum in March 2020 setup a very deep low near $562. We believe the diminishing volume and deep low bottom setup in Platinum are mirroring the 2002 deep bottom setup and starting a potentially strong rally for Platinum.
This Platinum Monthly chart below shows the 2000 to 2010 rally, including the 2002 deep bottom setup and volume setup, suggests that once Platinum rallied above the previous high price level near $641, the opportunity for a continued upside price rally was consistent. We believe the basis for this move was the continued upside price rally in Gold. As Gold began to appreciate, Platinum continued to appreciate and trend higher – following Gold’s lead.....Continue Reading Here
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