Standard Channel Down and new Lower High

30 May 2018

Platinum is trading on a long term 1W Channel Down (Highs/Lows = -12.1143, B/BP = -36.7780, MACD = -13.210) that started off in late January and has just priced the latest Lower High near 915. With 4H neutral (RSI = 50.443, Williams = -46.789) around the blue line, we expect the decline to a new Lower Low to start soon. The TP is at least the previous Lower Low at 877.90 but more risk averse traders can book the profit earlier ay 893.40.