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Platinum

15 Jan 2015 ‚óŹ 06:14 AM

Platinum and Palladium prices often move with Gold and silver and their pattern can give indications about what lies ahead. The signs are not good, as both appear to complete wave B and might head lower in C. At first sight you might think this is a ending diagonal but sometimes such patterns during a downtrend are a wave B triangle. See how RSI from a low of 7 [extremely oversold] is not at 60. If this is a wave B triangle then wave C down will be equal to wave A. You can see that was not funny. So is this indicating that recent Gold and Silver up ticks will falter? It might be saying be careful till the wind clears up.

plat150115

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