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Platinum

Platinum looks like it's trading in a long term bull flag. I find it hard to believe this pattern is a descending triangle, we've just seen the dark blue baseline of the pattern hold support, considering the Macro environment I'm expecting this pattern to finish with a bullish outcome. The RSI is slowly starting to create a Macro higher high, if we see the RSI continue to creep above the blue line we will see some strong price action to the upside, potentially parabolically given how other metals like gold, silver & palladium have been trading recently. The DPO is closing above 0 for the first time since roughly 2012, we have seen the DPO touch 0 multiple times over the years but the DPO has never really closed above it since 2010 until more recently, very interestingly bullish. It's always possible this pattern plays out bearishly, nobody knows for sure, safe trading.
TVC:PLATINUMLong
by PrivyCapital
Precious Metals Suffer Heavy Beating!Firstly, please support our work by clicking like button & or following! These really assist us to reach more investors & traders like you! This if the first week in nearly two months for precious metals to close with a negatively weekly price performance. Bearish Fundamentals - The recovery of US Treasury Bonds yields alongside a strengthening greenback contributed to the weakening of precious metals since last week. If economic data from across the globe continues to improve in the coming weeks, then Gold & Silver are expected to remain subdued. - Positive news about the Covid-19 Vaccine have raised the Risk Appetite of most investors who have began dumping non-yielding assets in favor of stocks and marginally improving US Treasury Bonds.
OANDA:XAUUSD
by tatendaaa
Platinum --> Metal Slug 🦐Recently all the metal markets drove by the upmove of gold has risen and created new highs. Platinum created recently on the daily chart a bull flag. During this week the market broke the flag and broke the resistance structure. According with our strategy we can look for a nice long order. ––––– Follow the Shrimp 🦐 Here is the Plancton0618 technical analysis, please comment below if you have any question. The ENTRY in the market will be taken only if the condition of Plancton0618 strategy will trigger.
TVC:PLATINUMLong
by InkyGrip
2
Platinum Futures: Time to change direction to bullish?Platinum is at a long term log down trend line from 2008. With the US dollar now falling I favor this line will soon be broken and uptrend begin. Technical observations that support this idea are: 1. Bullish divergence in the monthly RSI. 2. Huge up volume on the last price drop (seen monthly chart). Volume spikes often occur at tops and bottoms. 3. Less important but I think the EWT count is favorable. They may be a brief pullback before a up surge but maybe not. I see the first target at about 1320, but IFFFFF analysis is correct it may someday exceed the 2300 high. Take care. Process and trade your way. Feedback always welcome.
NYMEX:PL1!Long
by goodguy
Palladium looking like it wants to Roll OVERTA: Balance of Power indicator looks like it has made a reversal, when that happens we consequently dump but that is a sign of institutional buying pressure- as the sell pressure is rotated to a small percent of the market buying the cheaper lot. At an important traditional and Fibonacci level- therefore if we don't break above expect a retracement in the green zone which is marked by Fibonacci sequencing. -Megalodon (Rahim) Stay Safe, Trade Safe You are welcome to share your ideas below :) FX_IDC:XPDGBP
OANDA:XPDUSDShort
by BoSukas
Platinum Update: Profit=128513 SL=19901 Reward/Risk > 6.5:1 Trade Setup summary: Profit targets=128513 pip (4059 + 6584 + 9744 + 15994 + 23224 + 29189 + 39719) Stop Loss =19901 pip Reward/Risk > 6.5: 1 Current Status: Total Profit: 122387 pip Closed trade(s): 20387 pip Profit Open trade(s): 51000 pip Profit Trade Setup: We opened 7 BUY trade(s) @ 805.00 based on 'previous Forecast' at 2020.07.06 : Closed Profit: TP1 @ 837.90 touched at 2020.07.22 with 4059 pip Profit. TP2 @ 863.15 touched at 2020.07.21 with 6584 pip Profit. TP3 @ 894.75 touched at 2020.07.06 with 9744 pip Profit. 4059 + 6584 + 9744 = 20387 Open Profit: Profit for one trade is 907.00(current price) - 805.00(open price) = 10200 pip 4 trade(s) still open, therefore total profit for open trade(s) is 10200 x 4 = 51000 pip Break-Even 805.00 Technical analysis: . Platinum is in a range bound and the beginning of uptrend is expected. . The price is below the 21-Day WEMA which acts as a dynamic resistance. . The RSI is at 70 . Trading suggestion: . There is still a possibility of temporary retracement to suggested support line (863.15) again. if so, traders can set orders based on Price Action and expect to reach short-term targets. Take Profits: TP4= @ 957.25 TP5= @ 1029.55 TP6= @ 1089.20 TP7= @ 1194.50 SL= Break below 837.90 ❤️ If you find this helpful and want more FREE forecasts in TradingView . . . . . Please show your support back, . . . . . . . . Hit the 👍 LIKE button, . . . . . . . . . . . Drop some feedback below in the comment! ❤️ Your Support is very much 🙏 appreciated!❤️ 💎 Want us to help you become a better Forex trader? Now, It's your turn! Be sure to leave a comment let us know how do you see this opportunity and forecast. Trade well, ❤️ ForecastCity English Support Team ❤️
FX_IDC:XPTUSDLong
by ForecastCity
14
XPTUSD Detailed Analysis - Long SetupYellow zones- critical zones based on the monthly time frame Red zones- critical zones based on the daily time frame Blue zones – critical zones based on the 4h time frame According to the latest COT Report Platinum may be going for some bearish momentum, due to the increase of short contracts. Historically looking, the COT contract size area that we are in, has high chances to reverse towards higher quantities of long contracts. From a monthly perspective XTPUSD has been in a closed triangle structure since 2008 and we can finally see its end. But before that another touch towards its upper-trendline must happen. The monthly critical plays the role of the bottom part of this closed triangle. On the monthly time frame, February reached new unnatural lows which got rejected strongly and the price returned once again to the monthly critical zone. Since the end of May, XPTUSD is in a range that formed a wide-angle formation. A critical moment of this scenario will be the 800.000 level. We need to see a strong rejection there. A good entry point will be the correction from the daily critical area towards the 4h critical one. A second critical point is the daily critical area around the 860.00 mark. It can be viewed not only as a support/resistance zone, but it also aligns perfectly with the 0.618 Fibonacci retracement from the price drop in March. Our target will be the psychological 1000.000 mark. This needs to happen in order to reach the equilibrium price of this pair. If the crisis deepens the usage of Platinum will likely jump and logically its price as well. It is used in many industries that will stay unaffected from a future crisis. If you liked my analysis or you want to continue the discussion- feel free to leave a like and a comment. Thank you! Happy trading!
OANDA:XPTUSDLong
by SigmaTrading
XPT/USD 7/8/2020Welcome to this analysis of XPT/USD. Platinum has been in an uptrend since the capitulation low on the 19th of March. Price rallied from 565$ to 860$ but on 21st of May but it faced some resistance there and went sideways for over a month. Looking at the consolidation it looks like the price has made a falling channel Bull flag that got activated yesterday by a break and close above 837$. The target of the Bull flag is around 975$ as long as it stays above 800$. There are a few levels of resistance between the current price and the target, which are the previous high at 861$, followed by an order block around 910$ which is an equilibrium of a range as well and the 954$ level. This trade idea has almost 4 rewards to risk ratio. Good luck trading.
OANDA:XPTUSDLong
by Trader_Shayan
4
Bullish Charts - Uranium PlayCameco Corporation produces and sells uranium. The company operates in two segments, Uranium and Fuel Services. The Uranium segment is involved in the exploration for, mining, and milling, as well as purchase and sale of uranium concentrate. Its operating uranium property is the Cigar Lake property located in Saskatchewan, Canada. The Fuel Services segment engages in the refining, conversion, and fabrication of uranium concentrate, as well as the purchase and sale of conversion services. This segment also produces fuel bundles and reactor components for CANDU reactors. The company sells its uranium and fuel services to nuclear utilities in the Americas, Europe, and Asia. Cameco Corporation was incorporated in 1987 and is headquartered in Saskatoon, Canada. Cameco Corporation is one of the world's largest uranium producers, a significant supplier of conversion services and one of two CANDU fuel manufacturers in Canada. Their competitive position is based on their controlling ownership of the world's largest high-grade reserves and low-cost operations. Over the last four quarters, the stock’s earnings surpassed the Zacks Consensus Estimate thrice . finance.yahoo.com On May 20, 2020, U.S. Department of Energy rushes to build advanced new nuclear reactors www.sciencemag.org On 06/26/20, Cameco issued a press release relating to its win in the appeals court for tax issues. With the court win, Cameco should be receiving over $300 Million back from the Canadian Government plus another $482 million back in letters of credit that Cameco was required to pay as installments. transferpricingnews.com The tax court win was a HUGE win for Cameco and will free up hundreds of millions of dollars. Daily Chart Looks Bullish Volume, Bullish PMO, Bullish MACD, Bullish Stochastic, Bullish OBV, Bullish On 06/30/2020, Raymond James issued an Outperform rating on Cameco. On 06/25/2020, BMO Capital Markets raised the price target to C$17.00. Long! DISCLAIMER The Content herein is for informational purposes only, you should not construe any such information or other material as legal, tax, investment, financial, or other advice.
NYSE:CCJLong
by HotCharts