the pair is oversold, but not extreme, and stochastic is not too low as yet. However, I feel with GOLD levels, we should concentrate on GOLD movement, and its heavily overbought, hence we should look for BUY for the pair now.
Strategy BUY @ 18.4350-18.4600 and place SL below 18.3150 (I do not want SL to near now). Profit order @ 18.6850.
Platinum's break-out so far this week is also very rand positive
peterbokma
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@Goose96, That may be the case, but if the major metal GOLD is overbought, platinum will follow suit in GOLD's correction mode, hence the pair will move higher again (RAND weakening). I am extremely careful in selling now for that main reason. thank you for the comment. tc
Goose96
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@peterbokma I agree. Today's US CPI print, if it's strong, could see the pair spike
peterbokma
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@Goose96, Thank you, and yes that could be the catalyst. tc