Gold and Platinum are doing some interesting things off the 50 Day Bollinger Bands and 55 Day Lowest Close. I am expecting a bounce. It looks like we are getting some nice inside daily bars today.

Gold Weekly

Gold Daily

I circled previous instances where the 55 day lowest (or highest in 1 instance) close produced a bounce. This one by the shape of the 55 day channel looks ripe for a pullback up to at least the 2013 neckline again.

Platinum Daily

Platinum is not only benefiting from the 55 day lowest close here, but also the Year Pivot. This is a special gift and it may pull up to 980-1000 region again.

Platinum Futures Seasonality

Platinum doesn’t do much for the month of March… but then about half the time has a nice rally in April.