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Pl1

Platinum at key levelPlatinum "broke" its down trend recently, but it had a dramatic 2 day pullback to the base of the breakout. It is unclear whether the recent upswing was just a mildly longer pullback (see figure for pullback amounts) which will result in another drop in price or whether this is profit taking from the recent upswing. A break below 930 indicates a continuation of the downtrend. A bounce off the 943 level indicates a new uptrend. These are confirmation signals, but what if you want to enter the trade sooner? See below. What type of trader are you? 1. The 976 level could be a "loose" neckline (it could be drawn lower of course) to a head and shoulders pattern that had an absurdly abbreviated right shoulder (excellent short signal!) 2. Since the breakout coincided with both the 200 day EMA and the previous low of the downtrend, there is expected to be hard resistance and a pullback before a solid breakout (go long!).
NYMEX:PL1!
by wardjm
Platinum Trades at a Discount Against GoldPlatinum has been on a steady decline with slow demand. Platinum trades at a discount to gold, a condition that occurred last month. The spread between the two precious metals has tightened, but were at the widest in two years. Platinum, although grouped in with gold and silver as a precious metal, is typically lumped into the industrial group with palladium. Platinum has many uses in industry, most notably in catalytic converters. With economic data deteriorating globally, there has not been much demand for the metal, which is more rare than gold. The spread between the two widened because gold is an infamous “safe haven” hedge against economic and geopolitical uncertainty. However, some analysts believe the spread will continue to tighten as platinum rebounded off its 5 year low. Caroline Bain, senior commodities economist at Capital Economics, said demand from China could spur a rally. Although demand has been weak of late, China is notorious for picking up platinum when it is discounted to gold. Technically, volume has been weak and dropped off in recent weeks. Prices found support near $1,155, while a close below this level opens up a potential drop to $1,087/85. While, if prices can gain a little strength, prices could challenge $1,224/28 – near the 20-week EMA. The RSI is hovering just above an “oversold” level at 35, but prices have been comfortable within the lower bound. A rally in platinum will likely need a catalyst for ignition. Original Post...http://bullion.directory/platinum-trades-at-a-discount-against-gold/
NYMEX:PL1!
by CommoditiesTrader
Silver set to outperform gold and platinum next yearThe platinum/silver ratio indicates right now that silver will likely be the best precious metal to buy at the start of 2015 if all metals start rallying like in January 2014. Please see my previous ideas on silver and on the silver/gold ratio to see why this metal in particular has caught my eye lately. If you're bullish on precious metals right now, give preference to silver as it has the most to gain if a bullish metals market does set in.
NYMEX:PL1!
by ABRAK75
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