Let's talk about #platinum.
What is platinum? Until a long time ago, it was a rare, scarce metal that was used in jewelry and some other technical applications.
It is still scarce but now its use is necessary in electric vehicle batteries. Almost all production is concentrated in #SouthAfrica.
It had its speculative bubble where the price was inflated more in a...
Dollar fell last week giving a bump last week but the 100 DMA was a cap looking for the PPLT to test the lower bound of an envelope....This would be a possible buying opportunity when the stock market corrects and get to a more buyable washout. Maybe we test 83 then 79 and if really bad news strikes we could get way over sold to hit 78. with the weak dollar that...
Or a Cypher. It depends when this reverses but I am watching both levels.
A shark can also go to the 1.113. The Cypher terminates at the .786 but is not as common as a shark.
Peak 2 is higher than peak 1.
Watching and thx again to nuggetrouble (o"
No recommendation/This may not be finished going down just yet.
CMF is still below the 0 line.
I wish gold and silver looked as good. Given where it's started, 50 will be a fantastic place for investors, esp for newbs who are looking for a place to start slow, and build. The only thing is, the liquidity of this Aberdeen fund is thin and often volatile. Much success.
I went long at 85.4 on the idea that it would bounce. Hopefully we get back to the 200 MA at 92.81, first resistance is 88.90, then 91.69. DXY showed some weakness today. Maybe we get a roll back to 102 on DXY.
200 day moving average providing very good support and a very nice 200MA and 40 SMMA cross. This is looking very bullish from my perspective. I have a position.
Platinum is about to breakout above 100 from a very broad base.
I'm expecting the breakout to be strong. Last chance to get in before FOMO kicks in.
Targets are shown on chart.
Always protect your position with a stop loss.
Under-considered is platinum. Considerable write-ups on the fundamentals, with a positive market sentiment for the rare-metal-complex. Could this be the time to get in for a bullish ride higher?
Not a recommendation
Aberdeen Standard Platinum ETF Trust - Aberdeen Standard Physical Platinum Shares ETF is an exchange traded fund launched and managed by Aberdeen Standard Investments ETFs Sponsor LLC. The fund invests in commodity markets. It invests in platinum bullions. The fund seeks to track the price of physical platinum. Aberdeen Standard Platinum ETF...
Everyone knows platinum is the superior metal to Gold, it's rarer and a lot less of its supply has been mined. However the price hasn't reflected this for a while now which could be due to a few factors such as less demand for industrial use as well as investment and not to mention the world wide pandemic.
Below I've quoted some interesting facts from a report by...
