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Platinum Daily Technical Analysis | 19 January 2018

2018-01-19 10:33 am | Resource: Technical Analysis Section | No Views : 358

After suffering the Platinum bulls in the US dollar to penetrate the resistance level of 1000.93 finally managed to break through the Asian session today morning as a result of pressure bulls on the commodity.

Platinum Daily Technical Analysis | 19 January 2018

Platinum is still trading in a bullish direction and the simple moving average is a very important support area for palladium.
During the last report we pointed out that there is a symmetrical trading pattern on the interval of 240 minutes but the model in achieving the target and currently note that there is a negative participation model started in the configuration since September and has the settings of Sever but the difference is the difference of the formation area where it consists at d = 1041.27.
Momentum RSI 14 is trading in a bullish direction. This trend is weak, which has led to a bearish trend in formation but it is fine as long as the currency continues to rise and maintains the main trend.
It is expected that, if the palladium crosses the $ 1013.42 level, 1041.27 area areas may target the harmonic harmonic pattern, while a break of $ 994.5 might target the 690 level.
Support: 1000.93- 872.53-953.14
Resistance: 1013.42 - 1047.27 - 1068.59
Trend: Up

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