PPLT (platinum ETF) is approaching long-term resistance while overbought on the post-triangle pattern breakout rip. The weekly chart below shows the history of major drops following overbought (70+) readings on the weekly RSI.
PPLT weekly June 25th
As such, /PL (platinum futures) will trigger a short entry on a solid break below this 120-minute bearish rising wedge pattern (uptrend line).
PL 120m June 25th
For those that prefer ETFs, PPLT will trigger a short entry on a solid break and/or 60-minute close below this bearish rising wedge pattern.
PPLT 60m June 25th