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.
Palladium started strong selloff while Platinum holds strong.
PA:PL ratio was at historical highs.
Platinum is holding strong and did make new highs when Palladium made lower high.
COT is confirming reducing commertials positioning in Palladium
Number of factors set to influence Platinum for the month of March:
- Double Top Resistance at $880
- RSI tag of +70 on the daily chart, momentum exhaustion
- Seasonal Bearishness starts end-Feb/early-March and completes until end-March/early-April
- Expiration of NYMEX April Futures Contracts, expected producer selling up until first notice day
Take a look at this chart showing how the safe-haven metal platinum has been underperforming and is now at major support.
I expect money to flow out of the leader palladium and into platinum over the next few months.
See Palladium chart:
The chart shows that the price of platinum is at a very low level, according to the COT report analysis, it shows that compared to the previous publication, the number of open sales positions increased, but it is much smaller activity of sellers than in previous reports. This may mean that the downward trend is coming to an end. An additional factor to buy can be...
A few interesting points about XPTUSD and why it might be time to look at long positions:
1. 7-Year cycle in XPTUSD is bottoming out right now.
2. We are seeing a backtest of the initial breakout similar to what happened in 2000-2001
3. XPTUSD production is going to see major cutbacks moving forward from South Africa
4. Above ground stocks are winding down which...
A quick synopsis on this metal, coming to a cycle completion of the Geo:
1 - Price hit Predictive/Forecasting Model's qualitative target, defined at 98.27 on June 22nd;
2 - A "Warning Level" at this institutional weekly level may offer solid support and ground for reversal, here defined at 91.98;
3 - A large...
Personally, Rick Rule is an investing hero of mine, and I hang on his experience and follow many of his insights. This is so oversold, and PM's are about to turn the corner. As Japan does, so goes Europe and the US... we are all about to embark on endless QE as the deflation wave begins the prelude to the hyperinflation wave that will be coming in the years ahead.