Platinum has entered the 831 - 840 1D Resistance Zone (RSI = 63.418, MACD = 4.360, Highs/Lows = 20.0393) and following the impressive rise since last week 1D stochastics have turned overbought (STOCHRSI = 99.355, Williams = -7.945). This is a good opportunity to sell. Risk seekers may target the 775 - 785 Support Zone but we will settle for the median. TP =...
On Tuesday, commodities rallied on the weaker dollar and lower US10y yeilds. Among we focus more on Platinum as the underperforming price space. During the commodities rout, the Platinum price at one point fell 755$ in mid-August from the January 2018 high at 1028$, nearly a 16%.
Since then, the price has been consolidating in ranges, But the price has reaffirmed...
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Platinum is close to completing the current bearish leg started this month with 4H touching oversold levels (RSI = 25.857, STOCH = 28.684, STOCHRSI = 26.493). On 1D terms (RSI = 37.592, MACD = -0.910, Highs/Lows = 15.9250, BBP = -19.6820) the price is approaching the 775.55 - 785.20 medium term Buy Zone, presenting an optimal long opportunity. The target can be...
Platin price has lost much value in the last 48 hours and is looking currently for support. Loss in value is another indicator for decreasing industry because demand for oil and other industry leading commoditys is also going down.
confirmation for long entry is close above 790-791
confirmation for short entry is break down from 787 $ and close under 787...
Platinum hit a 15 year low in August 2018. Since then price has been consolidating. Platinum historically has been more expensive than gold. Price has possibly broken above the bearish trendline and looks ready to break out.
Seasonality supports the break higher. charts.equityclock.com
On the downside, there...
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...
TP at $820, SL $777 based on last 2 price action movements from sub $800 to $820 and potential limited supply levels. Strong momentum shown towards upside previously demonstrated. Could be a few more days before next strong upward move (unless it is today). For example purposes only.
Platinum bounced several times from big support level and I think the main trend has already shifted. I think we will test ressistence at about 850 and then it will take some time before price will be bouncing between 900 - 1030, but it is just matter of time, very nice setup IMHO.
Platinum rises as US Dollar is weak. It'll test the up-trend line soon, pay attention to the RSI indicator reflecting its weaker motivation.
The target is 832.00.
Turning point: 820.00.
Above 820.00, bullish , target price is 826.20, then 832.00.
Under 820.00, bearish , target price is set at 816.00, then 808.40.