Platinum "broke" its down trend recently, but it had a dramatic 2 day pullback to the base of the breakout. It is unclear whether the recent upswing was just a mildly longer pullback (see figure for pullback amounts) which will result in another drop in price or whether this is profit taking from the recent upswing. A break below 930 indicates a continuation of...
Open interests for precious metals are sky-high and Commercials are ensuring themselves against decline prices like crazy. With all the guaranteed advice for buy by proffesional analysts over the internet right now... I would rather wait with buying for couples of weeks from now...
WXY with double zigzag structure?
Likes W shapes and double bottoms. Looks like we might have another which would give a long trade to around $1160 from here.
Weekly Complex Head and Shoulders Bottom breakout on platinum futures. According to Bulkowski's chart patterns theory, this security could rise until : 1124: 1st Target 1206 : 2nd Target 1265 : 3rd Target 938 : Invalidation Stop Warning : Trading involves risks. Be careful to trade only a small amount of your capital on each trade.
follow up to post from a few days ago. First target of $11.07 hit. Long now to $11.81 to retest the long-term resistance. I suspect it will form an inverse H&S upon hitting that resistance to build strength for potential higher move still.
Held the 100DMA support (just). Closed well above it however on Friday, stochastic RSI floored but turning nicely. I'd go long here to the Fib at $11.07. Pop a stop on just below the 100DMA just to be safe.
Dear Community, today we have a quite interesting setup concerning Platinum. It is actually more a possible- than an expected setup but still worth mentioning. As you can see in the chart we are expecting the formation of a SHOULDER - HEAD - SHOULDER formation, highlighted in red semi-circles. If this scenario kicks in, we could easily dip deep into the...
I like the inverse head and shoulders in the weekly continuation chart in platinum, of all the metals, this one looks to be the most promising going forward. Good support around 1100-1105. A break of 1200 could set the next target at 1300