Looking all the way back to the 1980s peak we see roughly the same type of decline that other commodities made, but I am looking at it as a big triangle inside a Primary degree "B" wave which is far from being finished. Platinum hit a bottom on January the 21st and has added on what looks like a great start to an impulse, but it could be
correcting into a 4th wave.
All platinum would need is a "C" wave bull market and its "E" wave would be completed.
Platinum would also have to crash much deeper by a big amount to make a good looking zigzag down, as truncated zigzags are very rare. This deserves further watching, but I don't always have the time to keep up with the wave count in greater detail.
It is not Elliott Wave rocket science if Platinum finds itself at a "B" wave top in Primary degree sometime in the future, as we would need 5 waves down in Intermediate degree to confirm it. That means a huge "C" wave impulse decline that will never stop until another new major bottom has arrived.
Platinum was also repelled to the upside from the solar cycle peak in 2000, but was then repelled to the downside in 2008. This is the half way crash between the solar cycle slide and it will remain to be seen if Platinum peaks again as solar cycle #24 bottoms.