 Hello and welcome to the chart of the week video with me David Madden. Today's date is Thursday the 28th of February 2019 and the time has just gone 1155 GMT. This week's chart of the week is platinum and we start off by looking at it on a longer data chart, a weekly chart. As we can see here the market had a very large sell-off between January 2018 and August 2018 and since then the market has been bouncing back. If you look at the price action in the last few weeks, we can see that the market has been pushing higher. In fact, we recently reached a three-month high of platinum, so it gives an indication of how bullish sentiment is. If you take a look at the MACD histogram, the MACD indicator, we can see that as the market is pushing higher, we can see that the steady increase in positive momentum. So the upward move in the actually underlying palladium market is being confirmed by the steady increase in positive momentum. Essentially, the time being, there's an increase in momentum and the bulls are in control. If you look at this level that we're currently at, some of the region of 875, where you can see that 875 proved to be resistance back in November, but also active resistance in January, but all the previous that it acted as support in May 2018 and also in December 2017, so we're coming up to a fairly significant level. Now, could this be the level whereby the market breaks above it and that previous support resistance becomes new support and the market pushes out higher? Or could this be the point where the market runs into resistance at it again and looks to move lower? I'll take a look now at a daily chart to give you a better view of the price action. Actually, I do want to point out one thing on the weekly chart. We can see here, this blue line here is the 50 week moving average. It acted as resistance back in November 2017. It acted as support in March 2018. It acted as resistance again in April 2018. So in the last while, it has acted as it has been a significant metric. So there's a possibility that it could act as a significant metric in the near term. As we can see here, we're trading firmly above the 50 week moving average. It currently comes into play at 844 and today is Thursday, so we haven't actually finished a week just yet. But it would appear that we're going to finish, we're going to close this week well above the 50 week moving average, which would be significant in itself and it's a possibility that that area might act as support going forward. Take a look now at the daily chart and you can see the price action more close up. So as you can see here, we've seen a steady rise in palladium in the last few sessions. Like I said, we're at a three month high on the daily chart. There's a clear increase in positive momentum on the MACD indicator. So the market is pushing higher if you can drive higher from here and if you can take out the 875, 878 region, we could be looking at targeting the 900 area, it's a big psychological number. And then beyond that, we could be looking at targeting this price here, 912. It was the highest of around June 2018 and that region acts as a resistance and a complication. So it might be significant in the future. Move to the downside may find some support in around the 840 area. We can see the 840 acted as a consolidation area in the last five or six months. And if you move below that, support might come into play at this red line here, the 208 moving average, which comes to play at 826. Notice how the 200 moving average acted at resistance in November 2018. An ultra active resistance in April 2018, but they managed to act as a support on a few occasions in March 2018. So once again, the metric has been significant in the past, be it for support and our resistance, it may be significant again in the near term. So but for the time being, what we hold above the 30 moving average, it's likely we could see further gains being made in platinum. If you are going to be training platinum, keep an eye out for what's going on in South Africa in relation to industrial action. There's talk of strikes in South Africa. And that has been one of the reasons why both platinum and palladium have been pushing higher in recent weeks. And finally, before I finish up, if you have any comments to make on this video or any of the other videos we've made here at CMC Markets, please feel free to leave a review on good reviews. Thank you very much.