Platinum/Aberdeen Standard Physical Platinum Shares ETF (PPLT)

At current levels, the reward-to-risk for a buy/long on Platinum is starting to appear compelling.

Time Frame: Medium Term

The bear flag we highlighted in May has fully 'played out', with the commodity now being 21% off its YTD high. At current levels, it is trading at levels of interest, that being:

- The lower boundary of its 200-period linear regression channel.
- The 61.8% Fibonacci retracement level, of which the current test of the zone is the second in the last 6 weeks.

A 'conviction candle' above line A_B would suggest a reversal of trend, from bearish to neutral and then possibly bullish.

Provisional Levels:

Buy on break of line A_B (approximately above $1063 from current levels)
Stop-loss: $1022
Target: $1163
Current: $1054

Exposure also possible via the Aberdeen Standard Physical Platinum Shares ETF (PPLT)