Worth keeping an eye on this. Might be a classic false-break - but structure wise, we are in a falling wedge, which usually goes up. Historical support and resistance suggests it will go up - could be 25-50% gains.
H4: - Tendency: Downward - Below support - Re-test and confirmation support => Sell
Pattern: 1D Head and Shoulders. Signal: Bullish as the price has touched the Support of the neckline. Potential rebound towards the Resistance but tight trade due to the bearish momentum. Target: 870.00 (top of the neckline and symmetrical Resistance).
Platinum is on a strong 1D pull back (RSI = 40.890, MACD = -6.510, Highs/Lows = -5.9250) that is currently consolidating (1H neutral) before the next bearish leg. A similar pattern was identified both on the RSI behavior and on the High - Low measurements. We expect the selling to complete a -11.00% decline and our short TP is 815.00. ** If you like our free...
Platinum / U.S. Dollar FX_IDC:XPTUSD Pattern: Channel Up on 1D. Signal: Bullish as long as 866 holds. Target: 930.00 (the next Resistance on 1W). * If 866 breaks be ready to short to 833.00.
Pattern: Channel Up on 1D. Signal: Bullish as long as 866 holds. Target: 930.00 (the next Resistance on 1W). * If 866 breaks be ready to short to 833.00.
After trading roughly 11 months below the multi-year S/R zone, bulls have now successfully pushed the price of this precious metal back above the key resistance, which is now being tested as support. Trending Analysis The current pullback should be of interest to bulls as it can offer potential buying opportunities in anticipation of a possible bullish continuation north.
Platinum is approaching important crossroads on 1M. Trading on a long term 1M Channel Down (RSI = 50.828, MACD = -31.030, Highs/Lows = 27.2071), the very bullish 1W leg is closing in on the Lower High of the 1M Channel Down on overbought 1D action (RSI = 73.845). Technically we should be expecting a rejection towards the 1M Support Zone. But since this Support...
- Price is at a strong weekly resistance - RSI represents an overbought condition on the daily - Wait for price action to go short Trading with the trend.
Good weekend everyone, Quick look at platinum OANDA:XPTUSD ; WEEKLY: As we can see on weekly chart (right on top) platinum is on a downtrend since 2016 and show no bullish signals so far, again rejected the descending trendline. DAILY: On our daily chart (bottom) we see that ~875 usd level has been a strong resistance level, tested 4times now and was a...
Pattern: Ascending Triangle on 1D. Signal: Bullish as the price made a Higher Low. Target: 874.00 (the 1D Resistance Zone).
Possibly Downward, But Maybe Upward I dont Know LOL
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 - Continued...
I was using these charts to explain to a friend where the price of gold could be heading depending on USD course of action. Maybe someone will appreciate them. :) I'm considering 1282.XX, today's low to be the bottom unless DXY breaks above the long term descending trendline. Started buying in around this price. XPTUSD I bought at $836 along the same...
XPTUSD is approaching the strong 1W Resistance Zone (873.80 - 878.10). In the past 15 months this level has provided a pivot point 4 times. When tested as a Resistance it rejects the price downwards. In addition to that 1D has heavily entered into overbought territory (RSI = 77.235, STOCH = 80.786, STOCHRSI = 100.00, Williams = -3.226, Ultimate Oscillator =...
These charts deserve a closer look. :) Platinum / Palladium ratio just touched an all time low. You can see the explosive move up, following the last time the price ratio of these two metals touched this level. Considering the platinum chart on its own... Price recently found support from a ten year old support level... $750. Since then price has mostly...