Currently short silver (see Silver Mar17) so looking to get long Platinum
Will continue to scale in long when we get back below 17
Platinum has roared through resistance at the edge of its recent distribution (as observed in the distribution on the left axis). Some of the classicists might call it an inverse head and shoulders. Whatever the pattern interpretation, it looks particularly bullish!
While I'm generally bulled up on metals but palladium could be running into a right shoulder
On my theme on long metals also having a nibble long at X. Will wait on a move above 37.26 before adding on dips.
Goes against my bulled up metals view but will be looking to short above $61. May the meltdown china induced... writing in the tea leaves?
Platinum has been pretty wild for the past few days. True, it is still lower than heck on the daily, but notice how the hourly has started an uptrend. This could be a chance in on the ground floor before a large move upward if the support line holds. Price action is yet to confirm.
after dipping down to 0.7... where is the bottom?
Platinum "broke" its down trend recently, but it had a dramatic 2 day pullback to the base of the breakout. It is unclear whether the recent upswing was just a mildly longer pullback (see figure for pullback amounts) which will result in another drop in price or whether this is profit taking from the recent upswing. A break below 930 indicates a continuation of...
Bull recoil complete. Time for a tank sub 400? Long term model suggests a run up towards 700
Weekly Complex Head and Shoulders Bottom breakout on platinum futures. According to Bulkowski's chart patterns theory, this security could rise until : 1124: 1st Target 1206 : 2nd Target 1265 : 3rd Target 938 : Invalidation Stop Warning : Trading involves risks. Be careful to trade only a small amount of your capital on each trade.
Taken quite a few steps back to see where this metal has come from in the hopes of seeing where we likely to be heading in the future. While in free fall we are sat on potential new TL currently. Break that and we look like we're heading to 1.50. Support around 1.40
I already took a profit on my last position. I am adding to my position here. Dear old China should take us to our target.
Waiting 884 to break to enter long on platinum for long term
Start adding here. Excellent risk reward at the bottom of the channel and near oversold levels. 2.41% loss at previous lows vs potential 8%/27% gains. ------------------------------------------- For leveraged play on the bounce: Platinum Group Metals LTD
Platinum has been on a steady decline with slow demand. Platinum trades at a discount to gold, a condition that occurred last month. The spread between the two precious metals has tightened, but were at the widest in two years. Platinum, although grouped in with gold and silver as a precious metal, is typically lumped into the industrial group with palladium....
The platinum/silver ratio indicates right now that silver will likely be the best precious metal to buy at the start of 2015 if all metals start rallying like in January 2014. Please see my previous ideas on silver and on the silver/gold ratio to see why this metal in particular has caught my eye lately. If you're bullish on precious metals right now, give...