This is a study on the Rhodium ETF 1nvest Fib Study.
Some support has been seen around the R650 level. But still early days.
Should this level be maintained, I've plotted the Fibonacci Levels to see where the Trend might be in a few years time.
NOTE: This only for Education Purposes and not any advice at all.
Trust all will learn from this Chart.
Kind Regards.
Graham.
There has been some stealth buying of the Rhodium etf, an etf with low liquidity, but someone has been very careful to keep a low profile . For a few days now there has been some gap ups. Today there is a breakout. No doubt this will be subject to volatility, but a breakout is a breakout. Let's see if it holds. This is a major aspect of Sibanye's profitability.
Rhodium Down
-30% - 1Week
-45% - 1 Month
-60% - 6 Months
Severely Hurting certain PGM Miners!
I can't get the Fibonacci Retracements to work here!
Could someone better qualified have a look,
and redo this chart correctly please!
Symmetrical triangles are signs of continuation of a momentum, and usually the target is the height of tha triangle's base, which it reached. There is also an ascending (bullish) triangle forming shortly aferwards in this 1W period chart. You can see the importance to place a Stop Loss: in this case the win/lose ratio was 2:1 (taking profits also at the heigth of...
- After a successful long trade (link below) , Rhodium has come back quite aggressively and has entered a level of interest ...
- I will be watching for signs of support over the coming sessions to start building a long position IF price can find some bedrock
-- MANAGE YOUR RISK - -
Disclaimer: All ideas are my opinion and should not be taken as financial advice.
- Bullish uptrend , breaking out of a flat top triangle formation
-- MANAGE YOUR RISK - -
Disclaimer: All ideas are my opinion and should not be taken as financial advice.
JSE:ETFRHO
Rhodium is not something traded widely and something not studied closely. What is clear is that the market is in deficit and not something that can be done to correct this . The bulk of Rodium is mined is South Africa . It is mined as a byproduct from Mining PGM's as 1 to 11% of PGM's (basket of metals). Currently South Africa mines 70% of the world Rhodium . none...
Rhodium, the beast of a parabolic commodity is set to take a nosedive as it's brothers Platinum and Palladium have done. The reason behind this is quite understandable: Palladium and Rhodium are very useful and very precious rare metals which help reduce carbon emissions. Many countries are aiming to go clean by 2050, and so investors are looking to buy in early...
