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Platinum (XPTUSD): Quick Update. Getting closer to our Target.Platinum is approaching our medium term Target Zone of 1,020 - 1,040 as we posted on this idea in late October: As the moment, the current 1D Channel Up (RSI = 66.576, MACD = 14.780, ADX = 30.519, Highs/Lows = 23.68000) has just broken above the Higher High trend line again in a move that strongly resembles the late July/ early August break out. That Channel Up was supported by the 1D MA50 (blue trend line) and on a similar RSI action as today's broke to the upside aggressively to form a market top near 1,000. We assume that as long as the 1D MA50 supports the uptrend, XPTUSD will aggressively break into our Target Zone. ** If you like our free content follow our profile (www.tradingview.com) to get more daily ideas. ** Comments and likes are greatly appreciated.
FX_IDC:XPTUSDLong
by InvestingScope
Platinum (XPTUSD): Bullish Megaphone towards a new Higher High.Platinum posted a strong rebound on the 871.00 October 2nd low and is currently rising on 1D (RSI = 62.934, MACD = 2.660, Highs/Lows = 16.6714) towards a new Higher High. The Higher High is designated by the 1M Megaphone pattern it has been trading within since August 2018. The 1D RSI patterns suggest that a new bullish leg may start without needing to make a Higher Low. Our Target Zone is 1,020 - 1,040. Keep in mind that XPTUSD has just initiated its new multiyear Bull Cycle, and we consider it a top investment in the coming years, a matter we analyzed on our long term analysis below: ** If you like our free content follow our profile (www.tradingview.com) to get more daily ideas. ** Comments and likes are greatly appreciated.
FX_IDC:XPTUSDLong
by InvestingScope
2
Platinum: Top investment for the coming years.In our search for solid long term investments in the coming years we have decided to share our long term outlook on Platinum. Technically it recently broke above a 3 year Falling Wedge turning bullish on the monthly chart an effect that has since receded as it pulled back on the 1,000 mark (RSI = 50.285, MACD = -8.660, ADX = 25.926, Highs/Lows = 11.4571). If the 1W MA50 holds this pull back and another spike prints a Golden Cross, then we may come across a unique multi year buy opportunity on Platinum as most parameters will be similar to the late 90's Golden Cross pattern when the metal entered a hyper strong Bull Cycle. The target will be 2-3 times the initial value. We wish to add at this point that Platinum has fairly reliable pointers both on the short and long term and thanks to that most of our latest XPTUSD signals have met their target on high quality patterns. You can get an idea of those below: ** If you like our free content follow our profile (www.tradingview.com) to get more daily ideas. ** Comments and likes are greatly appreciated.
NYMEX:PL1!Long
by InvestingScope
Platinum - Consolidation / Price At Support LevelXPTUSD sitting at support level from recent consolidation. Also, back-testing descending trend-line from previous breakout. Resistance is up near $1960, offering a decent RR setup, depending on where on places their stop. One final consideration.... We're heading into seasonal strength. While there are many fundamental details to consider, I like the odds posted below and I don't mind being a few days early. ;) Platinum Futures Continuous Contract Seasonality Analysis has revealed that with a buy date of October 4 and a sell date of May 23, investors have benefited from a total return of 761.53% over the last 10 years. This scenario has shown positive results in 10 of those periods. www.equityclock.com Lonf from $930
OANDA:XPTUSDLong
by cccpKGB1
Platinum (XPTUSD): Lower Buy Opportunity.XPTUSD has been on a very strong rise in late August almost hitting the 1,020 - 1,045 1M Resistance Zone. Despite trading on bullish 1W technical values (RSI = 64.131, MACD = 26.660, Highs/Lows = 45.6178), the volatility itself is high enough (ATR = 41.0321) to justify a pull back to the 1D Support (890). This is where we expect Platinum to seek buyers as long as the 1W MA50 (blue line) provides support. Once this pull back is completed we will aim again for the 1,020 - 1,045 Resistance Zone. ** If you like our free content follow our profile (www.tradingview.com) to get more daily ideas. ** Comments and likes are greatly appreciated.
FX_IDC:XPTUSDShort
by InvestingScope
Platinum Looking to Join Gold / Silver RallyPlatinum looks like bulls have finally stepped in. It has been consolidating within a $150 range for over a year. The blue dashed line in a trend-line connected from the all time low in 2008. The Gold /Silver ratio recently started to reverse. This could indicate that gold is being perceived as "expensive" compared to related metals. I have no reason to think why platinum would be excluded from this class. There are a couple more resistance areas (marked on the chart), but we could see a decent run in once price breaks above these levels. I have a couple ratio charts that I will post along with my interpretation of what they are telling us. I will post the weekly chart in the comments just to show the potential upside if price returns to historical levels.
OANDA:XPTUSDLong
by cccpKGB1
2
XPTUSD: Medium term buy opportunity.Platinum has been trading within a bullish Megaphone pattern on 1W that is has now completed its bearish leg and is consolidating on the Higher Low zone (RSI = 45.796). We are expecting this consolidating to form the 1D Support for the next bullish leg towards the next Higher High. This is calculated to be around +18/19% from the current levels based on a +8% sequence on Higher Highs. The RSI patterns are also similar. We are going long on the medium term with TP = 937.00. ** If you like our free content follow our profile (www.tradingview.com) to get more daily ideas. ** Comments and likes are greatly appreciated.
FX_IDC:XPTUSDLong
by InvestingScope
3
XPTUSD: Sell opportunity on recurring patterns.Platinum is on a strong 1D pull back (RSI = 40.890, MACD = -6.510, Highs/Lows = -5.9250) that is currently consolidating (1H neutral) before the next bearish leg. A similar pattern was identified both on the RSI behavior and on the High - Low measurements. We expect the selling to complete a -11.00% decline and our short TP is 815.00. ** If you like our free content follow our profile (www.tradingview.com) to get more daily ideas. ** Comments and likes are greatly appreciated.
FX_IDC:XPTUSDShort
by InvestingScope
Platinum: High trending test. Don't miss the opportunityPlatinum is approaching important crossroads on 1M. Trading on a long term 1M Channel Down (RSI = 50.828, MACD = -31.030, Highs/Lows = 27.2071), the very bullish 1W leg is closing in on the Lower High of the 1M Channel Down on overbought 1D action (RSI = 73.845). Technically we should be expecting a rejection towards the 1M Support Zone. But since this Support Zone has been holding since October - December 2008, and only recently tested (August 2018 - Feb 2019) for the second time in 10 years, it is not unreasonable to expect that at some point a strong break out from the bearish trend will happen. So if 940.50 breaks, we will be going long with TP = 1,000. ** If you like our free content follow our profile (www.tradingview.com) to get more daily ideas. ** Comments and likes are greatly appreciated.
FX_IDC:XPTUSD
by InvestingScope
3
Platinum: Strong 1W Resistance. Sell opportunity.XPTUSD is approaching the strong 1W Resistance Zone (873.80 - 878.10). In the past 15 months this level has provided a pivot point 4 times. When tested as a Resistance it rejects the price downwards. In addition to that 1D has heavily entered into overbought territory (RSI = 77.235, STOCH = 80.786, STOCHRSI = 100.00, Williams = -3.226, Ultimate Oscillator = 76.165) issuing a sell signal. We are taking this short TP = 831.60. ** If you like our free content follow our profile (www.tradingview.com) to get more daily ideas. ** Comments and likes are greatly appreciated.
FX_IDC:XPTUSDShort
by InvestingScope
5
Platinum / Palladium Price Ratio - Long PlatinumThese 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 consolidated with a couple failed breakouts dropping price back to support. However, although it doesn't look like much on the long term weekly chart, platinum is up $65 from the February low and has broken above $830, previous resistance. There's a couple interesting things looking at the Palladium chart also. Price is at a measured move above the midpoint from the lows, which also looks to be significant support / resistance. I'm not jumping all in calling a top in Palladium, but $1500 does sort of portray a psychological milestone in and of itself. And although the fundamental argument could be made that price still has a long way to run, I'm sure people were saying the same thing about Platinum in May 2008 before it dropped from $2200 down to $750 in the course of six months. And often technicals are all that's needed to trigger a sharp reversal in price... Looking at the selloff in crude October 2018.... All things said Platinum looks like a good buy and hold Risk / Reward ratio, supported by the strength across the other precious metals. I'm going to wait and see how Palladium reacts to the $1500 level...
OANDA:XPTUSDLong
by cccpKGB1
XPTUSD: Approaching the Buy Zone.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 any value within or close to the 823.75 - 832.50 Sell Zone. ** If you like our free content follow our profile (www.tradingview.com) to get more daily ideas. ** Comments and likes are greatly appreciated.
FX_IDC:XPTUSDLong
by InvestingScope
Platinum: Symmetrical pattern recognition for a lower buy.Platinum is on its way to complete a Head and Shoulders pattern on positive gradient, a pattern that was previously identified from late September - November. The similarities are strong and leads us to expect that a similar candle sequence will be followed. This suggest that the price should rebound close to 786.85 and seek a upper neckline of the RS between the 0.500 and 0.618 Fibonacci levels at 811.60. We will use this as the TP. ** If you like our free content follow our profile (www.tradingview.com) to get more daily ideas. ** Comments and likes are greatly appreciated.
FX_IDC:XPTUSD
by InvestingScope
2