Wish I had published this sooner, as I absolutely nailed today’s massive price action.
I’m entering a partial position to hedge against the possibility that we don’t revisit the 790’s and low 800’s. If we do though I will buy a lot more.
Without a pullback its a 6% profit, with the pullback its 9%. Decent little trade.
I think platinum has now completed leg C and is on its way up to leg D before sellers come in again. It may extend further down a bit more before going up but i think this is a good level to buy before shorting again.
Please note that this chart is an opinion based chart only. Please trade at your own risk
Oh looky, 2001 & 2008 had Palladium crash down with the stock market, Platinum went up inversely. I wouldn't short Palladium cuz it's still on a hell of run, but something to watch. Platinum is at major support right now and Palladium is at ATH's.........
For almost two and a half years, JSE:AMS was stuck in a range of between R260 and R380, only once breaking out for a brief period.
In July of this year, however, the stock found good momentum, reaching a high of R500.37. It has since come off this high and is now offering traders a good entry point. Take a look at the above chart.
Firstly, note how Amplats is...
Platinum acts as a substitute to Palladium for material in catalytic converters. Only quite recently has the price of Palladium soared (currently at 1,070) above the price of Platinum (816), this will make platinum a more attractive option for producers and this demand should drive the price up.
The Platinum price has bounced strongly off the all-time low support...
Platinum price can reach 1000 level sooner according to my analysis.
All we need to get profit is to buy with good money management and hold it.
30% of platinum is used for Jewelry.
43% of platinum is used for automotive.
And other 27% is used for several purpose.
South African miners are the biggest source of platinum.
70% - South Africa
After studying market on the Monthly (1M) view I strongly believe Platinum has bottomed out and headed up with indication of trend reversal to follow in the coming weeks. Last time the market hit this low was in 2008, however, came quite close in 2016. I highly doubt there will be much further downtrend below 760.99 but I do remain prepared for such a possibility....
Platinum has now laid the foundation for the next rise with the completion of c.
Target 1 in wave c is $ 1,176 and you might even reach Target 2 at $ 1,412.
Goal 1 is already an increase of about 42% without leverage. So, if you want to leverage, look at Platinum-producers.
If you like it, than agree and like it.
SL @ 817
TP @ 1004
I will provide a comprehensive analysis for the trade decision in the evening, just wanted to make now sure, that my idea and the possibility to get into trade are intime.
Taking the trade from now on, as soon we go above 834, unless something changed or added to this idea.
Want to provide some updates once a week during the...
Platinum along with Silver is getting very close to a long term reversal. Keep in mind that this is a weekly chart but Platinum and Silver are setting up a personal ATM machine. Do not miss it!
(I made a typo in the chart, looking for break below 745ish)
I'm new to commodities and relatively new to Technical Analysis. No associated fundamental Analysis has been undertaken on Platinum.
This analysis is shared simply to further my own education and hopefully someone will appreciate it.
Platinum is moving to 18-months low
Take a look on daily chart there you can see, that 6 days ago price break down key level $878.77 and D1 close under it. It shows that big players have enough power to move it down.
I think the price will continue to move down to key buy zone $813.59. On a weekly chart, we see that it is 18 Months low. Under that level, many...
Strong candle as of Friday's close. Took long position in anticipation of break higher. Net positioning is lean and elevated shorts should help Platinum in the near-term. A generally weaker USD after the recent rally will also be supportive of this move. The longer term range of 890/900 and 1000 is a reasonable strategy to trade.