Platinum: Examining Resistance Retests and Seasonal Behavior

The recent movement in Platinum futures has seen a notable retest of the upper boundary of the range, coinciding with a resistance zone commonly referred to as "Supply." Our analytical approach begins at this critical juncture, where we factor in various elements, including the seasonal behavior observed in this precious metal over the past decade and a half.

A meticulous examination of historical data reveals a consistent pattern wherein Platinum experiences a significant decline in value from May through July. This seasonal trend, observed over the course of the last 10 to 15 years, underscores the likelihood of a continued downturn in Platinum's value during this period.

In light of this compelling historical precedent, we are inclined to anticipate a continuation of this seasonal pattern in the current market environment. Consequently, our focus is squarely on identifying and capitalizing on potential bearish opportunities. Specifically, we are actively seeking a setup that anticipates a local retest of the aforementioned resistance zone, which could serve as a catalyst for a reversal in price direction.

By aligning our analysis with both technical and seasonal considerations, we aim to position ourselves strategically to navigate the evolving dynamics of the Platinum futures market.