As usual the chart tells the story. In 2016 we had a 5 wave impulsive move higher from a multiyear low @ 810$. Signalling that this low is important and solid for now. Since august platin prices have been in a 5 wave downmove the lows of wave 5 touched 890$. It then took the market 2 months to form a decent bottom around the 900$ handle. Now in the recent days...
Although platinum is considered a safe haven, it also thrives in a productive economy. This gives it a great chance to do well during 2017, as people will turn to precious metals during times of uncertainty (which there will be a lot of in 2017), and with Trump wanting to spend like crazy on industrials (emissions control amongst other uses), this could propel...
Buying PLATINUM on limit--- (1) 921.78 (2) 912.82 SL for both @ 895.35 TP for both @ 1001.56-----
This descending triangle pattern on the 4-hour chart of the spot Platinum CFD offers an opportunity for a short trade in case of a downside breakout. The triangle's borders are marked with the yellow lines. The cyan line is my potential entry level. The green line denotes my take-profit level. I will set the stop-loss level to the high of the breakout bar (not...
be careful with a long term and wait for good structur. best chance to buy is 790 $
$1300 area in 2017 as Fed will not raise rates, and Trump will spend on industrials. (Also bull divergence on RSI) Platinum will take off as it is both a safe haven and is used industrially.
1: Bearish wedge 2: Under Kumo, bearish 3: Smoothed RSI resistance at 50% 4: Fundamental reports of higher supply than demand 3q2016 and into 2017
The flag is one of the most reliable continuation patterns, the original motion is almost always continued. It is preceded by a steep line (Flagstaff) and should be seen as a pause in the rise or fall. The flag is usually half way through the pattern and that makes it possible to determine a price target. The length of the movement for the flag is often the length...
A few interesting points about XPTUSD and why it might be time to look at long positions: 1. 7-Year cycle in XPTUSD is bottoming out right now. 2. We are seeing a backtest of the initial breakout similar to what happened in 2000-2001 3. XPTUSD production is going to see major cutbacks moving forward from South Africa 4. Above ground stocks are winding down which...
Platinum, potential bullish Cypher at 892 + structural support
PLATINUM : I see you at 1010-1030 o-o
Am watching to see whether Platinum breaks through current resistance or continues down to test support around 950. In downtrend on monthly and weekly charts. Support on the monthly around 819.