Platinum and Palladium are Signaling a New Supercycle as Sibanye Stillwater Aims at $40

On a recent X post, technical analyst Rafael discovered a new technical formation in Sibanye Stillwater stock. The company produces platinum and palladium.

The stock also regained the resistance at around $16.56, as indicated in the chart. This was a price-capped level in the earlier recovery period. Recapturing this area was an indication of a positive upward trend. The analyst observed that the structure could be indicative of a distribution phase followed by the next move. The more prolonged trend was stuck along the platinum and palladium strength.

Sibanye Stillwater Recovery Exhibits Good Price Structure

In the stock chart, there was a past peak of around $23.00 to $24.00. This area has become the second stronghold. The level of price will have to exceed this point in order to maintain itself. The other resistance level is close to the psychological zone of $20.00. This level was also a predecessor consolidation area.

The levels of support are still well defined on the chart format. The first support is close to $10.50, where it remained during the last rally. The greater structural support can be found at around $6.50. The major bottom is $5.73, where there was capitulation. The cycle projections also indicate that there is a potential reversal to the downside to $6.00 to $7.00.

The chart shows that the stock is establishing a new configuration with the possibility of increasing to a high of $38.00 to $40.00. Source: X (@hafatrdr) Feb/15/2026

Momentum indicators verified better balanced situations. The RSI value was close to 55.11, and the signal line of the RSI was close to 51.61. This was a positive momentum move reading that did not exhibit overbought. Increasing volume in the rally indicated a good accumulation of interest.

Also, the Elliott Wave pattern indicated long-term optimism of values as high as $38.00 to $40.00. This was level in line with the long-term upper trendline. The estimated target indicated the forecast of better platinum and palladium markets.

Platinum Holds Stably Above Major Support of $2,000

Additionally, Trading Economics revealed that platinum has increased by $55.4 and was trading at $2,077.1 per ounce. This was a rise of 2.74%/day. The chart depicted that platinum was beginning at around $950 to $1,000 previously. Later, prices steadily increased to above $1,200 and hit the mark of $1,500.

The rally continued to pick up pace towards the end of 2025 and the beginning of 2026. Platinum surged to overcome the psychological level of $2,000. The prices jumped fast to reach almost $2,200 and further to $2,600. The rally was at its peak of close to $2,800 to $2,900 and then reversed.

The chart shows that platinum is in an incremental pattern and above the support of the $2 000 mark. Source: TradingEconomics Feb/15/2026

After the peak, platinum has corrected sharply. Prices went down to less than $2,500 and later down to less than $2,300. The market stabilized at an average of $2,050 to $2,100. The possession of over $2,000 maintained the greater upward framework.

The levels of resistance have become close to $2,200 and $2,400. Resistance is measured at a stronger level of resistance—$2,600. To the upside, the support is solid at $2000 and further, though more precisely, it is around $1800 to $1900.

Technicals Indicate Consolidation Following Severe Correction

On the other hand, the metal trading at TradingView was recorded as $2,063.44 per ounce. Metal appreciated by $64.87 in the session. Platinum opened at $1,998.22 and temporarily fell to $1,993.05. The prices then went on to stabilize and rebound to $2,096.84.

The rebound indicated that the interest among buyers was high towards the $2,000 support level. This area was still critical following the previous redress of $2,700. There was active demand above this level.

The chart suggests the consolidation is up above the support, but the momentum after the correction is weak. Source: TradingView Feb/15/2026

Weaker trend strength was indicated by momentum indicators. The MACD was negative, and the MACD line was at -51.99. The signal line was 0.04, and the histogram was not positive. This affirmed further conditions of a consolidation.

The RSI was 43.94, and it remained below the neutral 50 level. This was a weakened purchasing power. The opposition was close to $2,100, then to $2,200 and $2,400. The support stood at a good level of $2,000 and risks going to $1,900 when breached.

Platinum group metals interest was manifested in the platinum recovery and Sibanye Stillwater rally. The market participants were still observing major support and resistance levels.