Platinum
Platinum (XPTUSD)I believe that we are currently retracing the previous high. The current low area seems like a higher low on the weekly. That Mac D looks like its attempting to lose momentum and should eventually cross to the upside! I want either 38% or 61% of previous high. I won't hold forever. Just as long as I can to squeeze some juice from this nice valuable metal. Platinum is a well respected metal used throughout several industries. Platinum is used extensively for jewellery. Its main use, however, is in catalytic converters for cars, trucks and buses. This accounts for about 50% of demand each year. Platinum is very effective at converting emissions from the vehicle’s engine into less harmful waste products. Platinum is used in the chemicals industry as a catalyst for the production of nitric acid, silicone and benzene. It is also used as a catalyst to improve the efficiency of fuel cells. The electronics industry uses platinum for computer hard disks and thermocouples. Platinum is also used to make optical fibres and LCDs, turbine blades, spark plugs, pacemakers and dental fillings. Platinum compounds are important chemotherapy drugs used to treat cancers.
source: rsc.org
The Silver Dragon has awaken again, butAs some of you may have noticed, the precious metals sector is showing signs of life after a recent cycle bottom. This is great news for bulls. But I'm writing this to show the long-term view. In this monthly chart, you can see we're coming to the exciting edge of the cup of a decades-long cup-and-handle. Cup-and-handle is one of the most bullish chart formations known. So it's not too surprising to have metals climbing this edge. And here's the "but" part. While silver, for example, may very well go parabolic from here, or in a few months from now, it's not really pressured to reach new all time highs ($50+per ounce silver) until late 2023. That doesn't mean it can't happen sooner, just the formation doesn't necessitate it until then. So while this is a great time to get into silver, and gold, and platinum, etc... just know that it may be a medium or long-term hold, not really a get rich quick sort of short term thing. It could work out short term, and there is plenty of fundamentals in place to make it so, but often these trends take longer to play out than one might expect. This is especially true with precious metals. We just has a nice rally today, and it could continue, but in the greater scheme if you're not already in a position, it could pay off to set a buy order on a reasonable dip and enter then. That's my 2 shillings for now. As always this is not financial advice - entertainment purposes only. Good luck out there yall!
P.S. My favorite place to trade metals is the Kinesis platform. You can get yields (5 different ways) for holding precious metals (fully allocated to your name), easily trade between metals crypto and fiat, and even take delivery of metals with the lowest premiums and shipping costs on the market. Free to set up an account, check it out: kms.kinesis.money
PLATINUM RETURNED BACK TO THE DOWNTREND CHANNELPlatinum is a rare precious metal used in jewelry, electronics, and scientific equipment. Platinum prices are highly volatile, even more so than gold. As platinum supplies remain low and demand high, platinum prices will likely remain volatile.
Platinum price formed a strong bullish rally last Friday due to the stability above the breached resistance at $1000.00 by reaching 38.2% Fibonacci correction level at $1035.00. Yesterday, the price returned back under the resistance level of the downtrend. It would be interesting how the traders will reach from that turning point.
If the price break through the strong resistance level around $1030.00 and 200-EMA, the experts suggest that it will activate the bulls on the market and it is possible the price will test the next strong resistance level around $1140.00 or to see higher prices around $1248.00.
On the opposite side, if the price continues falling, it will bring back the bears on the market, and the price may test the support level around $945.00 or lower around $908.00 again or far away on South around $838.00
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Platinum ETF PLTM 8OC WEEKLY triggers buy last weekPlatinum prices surged higher today as did all precious metals. My weekly 8oc indicator triggered a buy signal last week when the 8MA close ended the week above the 8MA open. Signals are only valid at the end of each price bar because they can move back and forth during the price bar but that would not be indicative of a change in trend until the bar is over. Generally speaking a first target for this method would be the range of the largest bar in the last 10 prior to the signal. In this case, for example,that was approximately $1.06 three weeks ago. Adding that to the closing price on the trigger bar would be our first target. Although the 8oc is not perfect (and nothing is), it is an effective way of spotting trend changes early in their inception.
Jake RBT
PlatinumWednesday, 29 September 2021
1:03 AM (WIB)
As expected, Platinum start falling down from this valid downtrend resistance at $1.006, and keep fall. When the price pass below 0.5 F, it would open possibility for the price to test the support lines again. At this stage, I will prepare several set up purchase orders on Platinum again.
Best regards,
RyodaBrainless
"Live to Ride and Ride to Live"
PLATINUM may be on the verge of a strong year-end rally!XPTUSD (Platinum) has had a strong rebound last week that started exactly on the Higher Lows trend-line of June 2020. The commodity may be repeating the 2020 pattern that lead to a massive end-of-year rally.
However it needs to get past (break and close a 1D candle above it) the 1D MA50 (blue trend-line). As you see since XPTUSD hasn't closed a 1D candle above it since May 18 2021 with the rejections on it being brutal every time. In 2020 once it closed above it, the price soon started a strong rally. Notice how the RSI is on Higher Lows now in similar fashion as in 2020.
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PLG potential 30xBuying shares of PLG at this confluence of trendlines and support. With platinum (XPT) currently being so undervalued while having bullish looking chart, I see this as potential 20-30 bagger. Great RRR.
Entry : 2
Targets : 10, 40 and 60
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⚠️Disclaimer: I'm not financial advisor. This is not a financial advice. Do your own due dilingence.
$BBX looking FKN BULLISH!So sure it's just dumped 10% but hear me out
Look at the RSI! This has been a long crazy consolidation - it's approaching an energy point and strong support and it's gotta girate to pump up teh RSI (similar to BBs here) so that it can move up without too much rtesistance - this is a PA-driven rise, not FA, becuse no results for a while.
But it is definitely ovesold (assuming it's not a fraud)
This is exactly what we need to see - down the elevator, up the stairs and boom out of that little bullflag there.! As long as it bounces.
PlatinumMonday, 27 September 2021
3:12 AM (WIB)
After created Bullish reversal with 13% ROI, Platinum shown resistance at 1 F. So, I'm expecting Bears could use this momentum for move down the price chart into my Golden Zone Area around 0.236 F.
Best regards,
RyodaBrainless
"Live to Ride and Ride to Live"
Huge inversion for platinum after long term trendline breach!Hello my beauties,
Platinum has breached a long term trendilne and accumulated for about 4/5 years. After a spring and an SOS, the price retested a very long term trendline. Please check my previous analysis below this text.
It is now forming an inverted head and shoulders with a price target of 995.
Don't miss out on monitoring the price around the green area!
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Luca, TrickleDownFX