After last week the upward correction failed platinum has made a lower low down to 785 $ which is near very important support 770-780 $. I expect bottom building in this zone and next week start of upward correction above 800 $.
The current platinum price is an indicator of a downturn in the industry and a saturation in the economic cycle.
Stop loss under ...
Trading Bias: Short
Technical Strategy: Head & Shoulders
*Must wait for break & close past neckline. The support channel is of significant interest. If we bounce, then the ideal short scenario is shown using the purple arrows*
Technically speaking, platinum can be due for an uptrend. But could take months for it to show sign of uptrend.
The last great shortage fear-induced panic buying spree in palladium occurred in 2000-2001. (It was only last month when palladium finally took out its 2001 high.) Palladium's great bull market began quietly in 1997 at about $125/oz. Over the next four ...
In the daily chart platinum approaches the 200 day moving average line which is a significant resistance (at 875 $ - 880 $). I expect from here again a correction / insert of the C correction wave down to $ 820. From here I expect again strong bullish growth because platinum is as already mentioned only about $ 50 from the 10 year price low. ...
Hi there. Price is in an uptrend. Wait for the price to form a continuation pattern and watch strong price action for buy. Platinum as gold and silver is inversely correlated to dollar, so more the dollar fall, platinum rise.
Don’t take a trade if you don’t see clearly when big guys are in.
After platinum has rallied in the last week, the indicators and market behavior are heading for a correction.
Psychological / Fundamental Analysis
The world economy is coming to an end and the industry continues to go down what can be seen in the rising crude oil stocks and the falling oil price. More and more people are investing in precious metals such as gold ...
The Platinum price is rising. As long as the upward movement continues, the level 872 will remain as a significant resistance level placed on the upper band of the smaller (red) diagonal formation. After that the upper band on the bigger diagonal (blue) in the vicinity of 890 will be the next level to test.
The price has entered an oversold area. But it also is ...