Monday, July 09, 2007

Platinum, Ready for new highs?

The price of platinum registered a new all time high at May 2006, followed by a three wave correction (A, B, C) . In October 2006 the price bottomed at around 1050$ an ounce and a new rally has begun (primary direction is up so 5 wave pattern is expected). May 2007 another all time new nominal high slightly above 2006 high.

Potential Inverse head and shoulders pattern with 1475$ as initial price objective.

platinum chart

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