Exactly 3 weeks ago, I promised you here that this strong platinum bull market would reach the round 1200$ magnet, a very important GUNNER24 Upside Target, within a short period of time.
On Tuesday platinum reached 1200$ for the first time, on Wednesday it pulverized its identified 1200$ bull market main target, on Friday it closed at a 1264.5$.
The rapid overcoming of the magic 1200$ main uptarget, this devilishly high weekly close, fresh +6-year highs, have now created maximum bullish implications for the rest of the year. It is likely that platinum will continue to outperform its buddies gold, silver and palladium to an almost embarrassing extent, over the course of this year 2021.
Best money is easy money. Time and again, I’m always glad to present to my loyal readers trade setups that are easy, uncomplicated and from my standpoint very safe. Alas, that kind of setups are few and far between like four-leaf clovers and mostly likewise difficult to discover:
Today, I’d like to give you the follow-up on my most recent platinum bull market analysis of January-24-2021. Easy, clear, uncomplicated is the appearance of this platinum bull, including its next bigger uptargets. Easy money, is what I think …
At the # 1 // 562$ // March 2020 Spike Low, the ENTIRE secular platinum futures (PL #) bear market, what started at a 2303.80$ alltime-high in March 2008 ended with a probability of 100%!
I expect platinum to find its next really important bull market high, usually at 1900$ to 2000$ range, in about 12 to 14 months. In 2021 platinum is supposed to perform magic on the pit with an abundantly clear uptrend year (= year lows near the open/year highs near close!).
I reach this assessment because its obvious that platinum - uncovered with the monthly 5 Candle GUNNER24 Up Setup applied in the monthly chart above - is now already at the beginning of the year in a position to massively overcome the red (= usually strong) 1st resistance double arc.
This circumstance normally leads to the outcome that the next higher double arc, i.e. the green 2nd double arc, should be overcome relatively unproblematically in the future and thereafter the trend should continue to accellerate until the next really important resistance double arc in the main trend direction, i.e. the 3rd, is reached.
Please watch that with the very last month of the passed 2020 and on yearly closing base the within setup naturally anchorable „Strong Rally Angle" was finally overcome and the year 2021 opened shy above this rally ruler. This month candle opened exactly above the Strong Rally Angle support and therefore we`ve got strong confirmation that this bull guide should be monthly closing base main support for likely the entire 2021.
==> Since this Strong Rally Angle will only cut through the major GUNNER24 Upside Target of the lower line of 3rd double arc in about 12 month candles, we can safely assume that platinum will not be aiming for a major bull market uptarget for another year or so. Then at the called 1900$ to 2000$ upward range...
... 1900$ to 2000$ is a really very-important natural backtest magnet for this platinum bull market:
A) There unite the future upmagnet environment of the 3rd double arc and the highest price of the passed 2010-2019 DECADE what is nearly exactly at the 1900$.
B) The highest price of the 2010-2019 DECADE is of course prominent backtest point for this 2020-2029 DECADE & the highest price of the lower line of 3rd double arc 100% accurately is at the round 1900$.
C) Overcoming or recapturing the big round 1000$ with the 2020 close (1079.2$) automatically activates the bigger 2000$ W.D. Gann number as a major important bull market uptarget = upmagnet.
==> IN ANY CASE, the now visible breakout above the main resistance of the 1st double arc is an unambiguous evidence that the lower line of the 2nd double arc is willing to be be reached in this underway weekly upcycle and until March 2021 what will be the 13th Fib number bull market market and therefore forms nearest interesting future combined bull market upmagnet regarding price & time at 1435$ for # 13 March 2021!
Platinum since Tuesday is on fire! All the important resistances are breaking, we`re witnessing a short squeeze, that`s really heavy.
==> That’s why this is valid: In case during the coming days the metal wants to test back supports, that’s where 1220$ offers a really good long-entry!
1220$ is now nearest important and likely very strong future GUNNER24 Support!
But whether it is a 1220$, or whether the very-classic backtest of the round 1200$ will be due, or whether a daily or weekly retracement will perhaps only test the 1240$ to 1250$ level in the coming days, is actually completely irrelevant in this powerful bull market when we have to expect a 1900$ should be due within 12-14 months with a very high probability. Or?
I’ve got no doubt about the lower line of the 2nd double arc, the next higher important monthly uptarget of this bull market to be worked off until the end of the # 13-March 2021! The probability to be is at more than 80% now, A) because the 13 is a Fib number as you know, an important high one. At such important Fib numbers resp. near such, extremes happen very frequently. In the case of platinum we have - of course - to assume that the # 13-March 2021 might deliver the next important bull market top.
B) Additionally the weekly time frame incl. the currently most determining GUNNER24 Up Setup in the weekly time frame strongly points to a 1430$ to 1450$ work off in course of the coming weeks. Means, the 1435$ for March 2021 is by last Friday 1265.$ close activated combined weekly and monthly uptarget magnet:
After the accurate perfect & successful backtest of the former major Blue Arc resistance at the December 2020 Spike Low the last couple of weeks, without much ado platinum succeeded in marching to the natural uptarget of the 1st double arc within at final bear market low anchored Low/High GUNNER24 Up. Usually that perfect backtest of former longlasting Blue Arc resistance means a very serious and above all sustainable bull market continuation signal.
With the high close of the last candle and the fresh year high made at 1281.4$ the natural strong resistance of the 1st double arc together with the natural 1200$ Gann number resistance is unambiguously overcome.
With this final strong overcoming of the natural resistance of the 1st double arc a GUNNER24 Buy Signal in the weekly time frame is fired. Thereby, at the moment it looks as if the metal will perhaps have to reach and work off its activated lower line of the 2nd double arc uptarget rapidly at a 1430$ to 1435$ or so.
==> 1435$ is thereby a combined weekly and monthly upmagnet. Well, because of its attractive force, an established resp. existing combined weekly and monthly upmagnet always makes likely such an upmagnet being worked off and reaching the target in the current weekly/monthly cycle. 1430$-1450$ MIGHT!!? to be reached until the end of March! The time factor = monthly bull market count points to that.
Until the 1430$-1450$ are worked off, I suggest you to buy ANY "deeper" PULLBACK/DIP down to the 3 currently most important supports which are:
A) 1240$ - 1250$ if reached coming 10 days cause of existing and confirmed double resistance what kicked in at 1274$ GUNNER24 Magnet formed by a natural horizontal and the 2*1 Gann Angle. No matter when! 1240$ - 1250$ now is nearest, strongest daily GUNNER24 Support.
B) 1220$ if backtested in course of February. No matter when! That’s Gentleman`s long entry price and nearest strongest future monthly arc support.
C) Another ideal monthly pullback target could be the round 1200$. Buy there resp. open there another long-position for the 1430$-1450$ possible very important platinum bull market uptarget.
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