Pattern: Bullish Megaphone on 1D. Signal: Buy as the RSI broke above its Lower Highs trend-line. For a stronger confirmation you may wait for either a break above the 1D MA50 (blue trend-line) or the Lower Highs trend-line of the price since the February 16 High. Target: Either the 5.0 or 6.0 Fibonacci extension. ** Please support this idea with your likes...
three possibilities: - sideways into range (purple zone) - ascending channel rising into grand ascending channel - break drown and the correction extends below $1050
The USDZAR pair is currently sitting in the consolidative blue triangle. As long as the DXY remains below 92.800 and platinum stays above $1015, I expect the pair to complete an ABC corrective pattern. A break above the 200-week MA rate of 14.59 could however see the pair move into the range between 15.50 and 16.00. The fundamentals that drove the rand stronger in...
OTC:BYRG Buyer Group International, Inc. Rhodium Price 2013: $1,000 Rhodium Price 2021: $29,000 Revival and funding of BYRG has been taking place for the past couple months. Back in 2013 they're claims had a $1.3 BILLION valuation when Rhodium was only $1,000 per ounce. Currently today Rhodium is worth $29,000 per ounce and has become one of the most sought...
Given the weakness in the platinum miners and resource stocks in general in the last few weeks, it takes some bravery/optimism/fondness for punishment to start nibbling at long positions. Some resource stocks, and platinum miners in particular, are tilting bullish. Same as the related idea on JSE:IMP , with JSE:NHM : - Golden cross & bullish confirmation on...
JSE:IMP Given the weakness in the platinum miners and resource stocks in general in the last few weeks, it takes some bravery/optimism/fondness for punishment to start nibbling at long positions. Some resource stocks, and platinum miners in particular, are tilting bullish. on JSE:IMP : - Golden cross & bullish confirmation on 1D MACD - Bullish divergence on...
Precious metals (PM) have really struggled this week, with the following weekly movement in USD: Gold TVC:GOLD -5.65% Silver TVC:SILVER -7.17% Platinum TVC:PLATINUM -7.2% Palladium TVC:PALLADIUM -8.23% All these PM’s seems to be heavily oversold over the shorter-term, which could see a bit of a recovery over the next week or two. Why is this important?...
If #platinum drops to $1114 level which is 0 FIB. RET. then it will be an extreme oversold. Considering industrial shortages and inflationary environment this metal should rebound very fast. Current sell off does not make any sense. Just recently #platinum was outperforming both #gold and #silver
Pt backtesting 5 year resistance as support. Liftoff imminent?
While Gold had been rising, Platinum has been on a decline recently. It did make a multi-year high on 16 Feb but fell back right away. Recently it has been consolidating within a channel and on Thu last week , it broke out impulsively below it. Friday’s price action was choppy (check out H4 chart) and I see it like a pullback to the channel bottom. I anticipate a...
Several support levels has failed in Platinum, now testing a declining triangle. Commodity futures should be up because of the pressured fed rates and shortages in supply. However hit in the car manufacturing industry is pressuring platinum levels as well. Platinum prices were above gold and palladium before pandemic and is expected to catch up at some point....
The price of Platinum is currently trading near a major make-it-or-break-it point, whose further development entails excellent trading opportunities. On the one hand, the breakdown of the price below the lower boundary of the Flag and the 100-day MA (in blue) signifies a potential correction to the 38.2% Fibonacci retracement. On the other, the Stochastic RSI...
Unless this bull flag top TL does not continue to support the PA I will venture to say PLG is leaving a very long boring bear market.
After the attempt to break the recent highs Platinum started a descending movement inside a counter channel. The price, which is moving inside a major ascending channel, reached the support area over the lower trendline. According to Plancton's strategy if the conditions will be satisfied we will set a nice long order. ––––– Follow the Shrimp 🦐 Keep in mind. 🟣...