AMSJSE:AMS fell to the potential support level, as shown in a previously shared idea. NYMEX:PL1! is weak and PGM miners are receiving hands from that weakness.
Will there be buyers here?
Pgms
Paladium One (NKORF) + Paladium1! Futures LONGTERM wildcard!A comparison chart to ponder considering the future price of PGMs as well as geopolitical risk in Finland. I like it as a wild card PGM mining play. LONGTERM. Hopefully things resolve themselves or the problem stays put. Seems like without a helping hand Putin is stuck in the sand. But about the chart - I like the level we are at to begin accumulating. TIMELINE: 3-7 YRS. High risk that mellows to reward, with a long enough timeline, at least 50% and most likely 150%. But who knows? I sure hope I do.
Sibanye Stillwater Sibanye Stillwater has had massive gains over the past year, it is now cooling off a bit, IMO.
It needs to hold R64 otherwise it will open itself up to testing the next support line at the R55 area.
It needs to break and close above R73 to ensure it doesn't print a lower high.
However, It looks to be forming a bull flag - Which is indicating that this cool off period will precede the next bull run up.
My price target is R55 if it doesn't hold R64 - at this point I will back up the truck and load a massive LONG position.
Disclaimer:
I own Sibanye Stillwater shares.
WPM - Not goldI like WPM, but it trades better on an inflationary run more than anything. Silver is the bulk of its streams which should not perform in an industrial slowing environment. This stock is on its high end and I think it is a fish out of water. Buy it later when it pulls back.
PlatinumI'm already long. I will add to my longs in that pretty little red zone.
Gotta respect that trend!
COPPERDollar looking weak! It breached key support and it looks like it has formed a double top.
If the dollar continues lower, then copper and other metals should continue higher.
PLATINUMThink Platinum has shown its lows but only time will tell. Broke long term down trend with big move to the upside. If Platinum has indeed carved out its low, its only a matter of proper positioning for the bull market. Expansion of money supply as well as lower interest rates across the board should equate to much higher metals prices. We will see!
Strong Palladium - Weekly Technical ViewSolid performance by Palladium as it storms ahead to take out several key levels.
We are deviating slightly here but the daily chart shows that price failed to close above the 200 DMA and this could mean that a slight pullback in next week price action to test 780 levels but we expect the run higher to continue.
Coming back to the weekly, the price action will soon reach our price target currently sets at 809. We notice that the price action could continue to range trade within the red lines. Upon closing the long positions, we could wait on the sideline to confirm our next outlook.
