Platinum Prices Poised for Decline as Seasonality & Supply Zone

10 בפבר׳

Platinum prices are currently approaching a key Supply zone as the Futures contract PL1! retraces following an initial bearish impulse. This price action suggests that the market may be poised for further downside movement.

Analyzing seasonal trends reveals a potential for bearish behavior, consistent with patterns observed over the past decade. Historically, this time of year has often been associated with a decline in platinum prices, making the current setup particularly noteworthy.

With these indicators in mind, we are actively monitoring the market for short setups. The convergence of the price approaching the Supply zone and historical seasonality trends reinforces the possibility of a downward move in platinum. As the market unfolds, we aim to position ourselves accordingly to take advantage of any shorting opportunities.





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I'll close this trade soon, you can close if you want.