Google is going up. When are we to expect full recovery? This short technical analysis will give you some clues where to look at.
Platinum is to drop soon
On the H4 chart of Platinum, the price has been rising since last Tuesday. Today, it seems to be continuing the upward direction, but it may not be for long. The RSI and Stochastic Indicators are both in the oversold zones, which means soon a downturn may take place. The Stochastic Indicator’s slow line has already crossed the fast one upside down. Therefore, the bears need to wait for the RSI to cross the 70% upside-down to have a secondary confirmation to open shorts. When the price approaches the resistance level of 932.20, it is very likely to bounce back down. For this scenario, the support levels may be placed at 889.04 and 866.80, while an additional resistance level may be located at 954.57.
There is a certain resemblance of the S&P chart now and how it performed in June 2019 with relation to the MACD. The conclusion may not be very consoling.
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