XPT/USD - PLATINUM: Super-Cycle Bull Market Underway?
Markets move in cycles, expansion are followed by contractions/consolidations and so forth.
These cycles are fractal, meaning they repeat themselves across multiple timeframes.
Commodities are well known to be cyclical and unlike stocks, do not necessarily go up in the long run.
What we see in platinum is no different. Since peaking at $2115,84 in January 2008, the precious metal has endured a twelve (12) year bear market.
Many commodity specialists believe the March 2020 low in commodities was a significant bottom for the next decade or so.
The Elliott Wave Principle support this view.
The 2008 crash, wave A, was a swift impulse followed by a sharp recovery into 2011 for wave B.
Wave C was a more gradual decline which unfolded in a clear five (5) wave sequence and bottomed at $582,20 in March 2020 with the global covid-19 market sell-off.
If this wave count is correct, the recovery to $1344,41 is either wave (I) or (A) which calls for further upside at least for wave (C).
A break below $582,20 will invalidate the supercycle bull market view.
A strong platinum price will be a major boost for JSE listed platinum miners $JSEIMP $JSENPH &JSERBP
These cycles are fractal, meaning they repeat themselves across multiple timeframes.
Commodities are well known to be cyclical and unlike stocks, do not necessarily go up in the long run.
What we see in platinum is no different. Since peaking at $2115,84 in January 2008, the precious metal has endured a twelve (12) year bear market.
Many commodity specialists believe the March 2020 low in commodities was a significant bottom for the next decade or so.
The Elliott Wave Principle support this view.
The 2008 crash, wave A, was a swift impulse followed by a sharp recovery into 2011 for wave B.
Wave C was a more gradual decline which unfolded in a clear five (5) wave sequence and bottomed at $582,20 in March 2020 with the global covid-19 market sell-off.
If this wave count is correct, the recovery to $1344,41 is either wave (I) or (A) which calls for further upside at least for wave (C).
A break below $582,20 will invalidate the supercycle bull market view.
A strong platinum price will be a major boost for JSE listed platinum miners $JSEIMP $JSENPH &JSERBP