FXStreet reports Karen Jones, Team Head FICC Technical Analysis Research at Commerzbank notes that platinum has met the initial downside target offered by the 200-week ma at $929. However, this coupled with a triple divergence of the daily RSI suggests that the down move has been exhausted for now.

“Platinum has met its initial downside target of the 200-week ma at $929. The market has traded through here but the new low of $901.68 has not been confirmed by the daily RSI again and this is now triple divergence. 

“Rallies will find the 55-day ma at $1029 now offers decent resistance and the market will need to regain $1046 (January 2020 high) to reassert upside dominance."

“A close above $1046 is needed to negate the current push lower and allow for a deeper recovery to the 200-day ma at $1127.”