Tuesday, March 08, 2005
EWI: Platinum Reversal Soon
Elliott Wave Internationals' Jeffery Kennedy made a call for a big move in Platinum. As usual the subscription service isn't saying which direction, but I'll let the charts and Jeffery fill you in.
"The stage is set for a significant trend change in platinum prices. The market has consistently traded at or near 20-year extremes throughout the past year, and the wave patterns at several degrees of trend suggest the same thing: reversal, dead ahead."
"If you check out the forecast, you'll see that the daily chart of platinum illustrates a very nice "contracting triangle" pattern." Check here and scroll down to the 6 month chart and you can see the triangle Mr. Kennedy points out.
"The stage is set for a significant trend change in platinum prices. The market has consistently traded at or near 20-year extremes throughout the past year, and the wave patterns at several degrees of trend suggest the same thing: reversal, dead ahead."
"If you check out the forecast, you'll see that the daily chart of platinum illustrates a very nice "contracting triangle" pattern." Check here and scroll down to the 6 month chart and you can see the triangle Mr. Kennedy points out.
# posted by Ben Jones @ 4:38 PM 
