Platinum: Potentially Nearing Oversold

15 Şub 2023

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• Price momentum is down however the indicators point to the commodity nearing oversold conditions
  Nearing incline support
  Is trading just below the 61.8% Fibonacci retracement level
  Consider the following for today or in the next 2 to 3 sessions: the development of a piercing candle formation i.e. a print below the prior day low and a reclaim of those lows to suggest that buyers have started to step in.
  Traders could consider building a small buy/long position on confirmation/improvement in the price action or structure.