Alex Bobrov
⬤ Platinum prices made a decisive move higher after breaking out from a symmetrical triangle pattern, confirming a shift in market structure on the daily timeframe. The chart shows price breaking upward from a prolonged compression phase, followed by strong bullish continuation. This breakout marks a clear transition from consolidation to trend, with momentum accelerating into week's end.
⬤ Platinum delivered immediate follow-through after the breakout, printing consecutive bullish candles and closing decisively near session highs into Friday. From the breakout point, price advanced roughly 10 percent, underscoring the strength of the move. The chart shows platinum trading around $2,734 per ounce, well above key moving averages, reinforcing the bullish technical backdrop.
⬤ The price structure now reflects higher highs and higher lows—a classic signal of an established uptrend. The chart doesn't show meaningful rejection following the breakout, suggesting selling pressure has remained limited. Instead, any short-term pullbacks have been shallow and quickly absorbed, supporting the view that buyers continue controlling the market.
⬤ The platinum breakout matters for the broader market because sustained moves in precious and industrial metals often influence sentiment across the commodities complex. Platinum's dual role as both industrial and precious metal makes its price action particularly relevant when momentum accelerates. A confirmed breakout with strong follow-through can shape near-term expectations and signal continued strength as long as the current trend structure stays intact.
Alex Bobrov
