$PLAT, on the DAILY chart is shown breaking out of the CUP AND HANDLE seen on the WEEKLY chart and has been in a clean uptrend for the last four (4) months and has ridden BLUE TREND-LINE SUPPORT higher. That being said the massive increase over the last couple of trading days is strange and feels like too much- then again it could be auguring higher prices.
$PLAT, engaged in a near parabolic rise from $500 to $1350 and then entered into a clear 15 month CUP AND HANDLE CONSOLIDATION. Finally, in October, the price of Platinum broke out from the HANDLE above resistance at $1350, and moved significantly higher. You would think we would get a huge rally here, but it could also be some kind of top.
$PLAT rose nicely during the beginning of the millenium until it ran into stiff resistance around the $500 level through which it could not penetrate despite a number of attempts. After a quick steep correction the current massive UPTREND got going and has quite consistently without failure managed to remain above the BLUE SUPPORT TREND-LINE. As can be seen from the chart, the price of Platinum found very strong support from the SINGER EMA BAND, though it had been struggling until recently to breakout through the highs of 2006/7 represented on the chart as RED HORIZONTAL RESISTANCE.
However, recently, $PLAT has broken out strongly over those levels and has made a huge run over the past couple of months ever since the August lows in the equity markets and the attendant extra liquidity being infused.