Bullish Signals

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There are some bullish developments that we are going to look at in the precious metals tonight … Starting with Platinum

$ PLAThttp://postimg.org/image/ba5iaebhz/

Platinum just declined into a daily cycle low. The cycle low found support at the 200 day MA. A swing low forms along with a declining trend line break. Monday back-tested the trend line break before the big day today.

Platinum is in an uptrend. It is printing higher lows and higher highs. And following a right translated cycle we expect to see palladium to again print a higher daily cycle high.

$ PALLhttp://postimg.org/image/5onok306v/

Palladium has been forming an ascending triangle over the past couple of weeks. Palladium had a bullish break out Friday and delivered more follow through on Tuesday.

Platinum & Palladium has been leading gold and both have broken out, which brings us to gold …

Goldhttp://postimg.org/image/z74z0vtyb/

Gold printed a 27 day low last Tuesday. It formed a swing low but has been contained by the 1260 level. Today gold pierced the 1260 level. Gold needs to break above the 1290 level to confirm a new daily cycle.

Seeing both palladium and platinum break out are bullish signals for gold to follow suit.

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