XPT USD BUY (PLATINUM - US DOLLAR)Hi there. Price is forming a continuation pattern to the upside. Wait for the price to complete the pattern and watch strong price action for buy.
Platinum
Top 2 Biggest Industrial Contraction Ever? Methinks YesJust an idea, haven't shorted it. If there's a fundamental reason you think Palladium should be higher, please let me know.
SBSW & PLG breakout coming Two platinum/palladium miners that are set to catch up with the broader market rally.
SBSW: Above its VWAP from recent peak, VWAP from February peak and VWAP from March low. Also consolidates above 50 EMA which found support at the 200 EMA and is now pushing price higher. I have removed the 5 and 20 EMA in order to see the VWAPs but please add them to your own chart and you will see they are in a very bullish position.
PLG: Still has some work to do consolidating below the 200 EMA and VWAP from recent peak, while above the 50 EMA and VWAP from Feb peak/March low. I have picked the $1.70 level as the final resistance level. I am going to watch SBSW as it is technically closer to a breakout, and if the breakout occurs, PLG has a very high probability to move higher.
XPTUSD Sell SignalPattern: 1D MA200 rejection.
Signal: Bearish as the rejection took place on the RSI support level.
Target: When the RSI hits 33.73.
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Platinum short - Daily ChartPrice seems to be obeying previous trendlines (red dotted line & pink line).
As price meets vwap once more, it looks like a good area for shorting.
Wait for an entry reason, what ever you choose on a lower time frame.
DXY (COT Analysis)Okay, here is the DXY or the Dollar Index. Part 1...
This post is going to be quite long as it is going to serve as the post that introduces something im gonna try and update weekly. the COT Report. Now, i had no idea what the COT report was until i watched and looked at a very popular, here on TrdingView, trader's charts and saw his very useful indicator! I did my own research and thanks to another popular trader, again here on tradingview, who helped tremendously with providing some very useful resources i was able to learn about the COT.
Now Here is going to be a trial, mainly for my own reference, to track which pairs too look out for. So without further wait:
the USD Bias- Undecided
Commercials - current== (16 438) and the previous == (18 407)
Non-Commercials- Current== 14 799 and the previous== 17 297
Open Interest - current == 28 298 and the previous == 31 477
What does this mean? This means the Dollar is stalling right now. The open interest went down which suggests that both sides closed out positions without opening up new ones. the non commerciasl are still selling and the non-commercials are still buying which is giving us the slight rise in PA. However on the COT Index the Gap is closing between the Commercials and Non-Commercials., nd both sides are nearing the Zero Line. the last time this happened the Dollar fell to 86-87. This might be just a profit taking session to give the DXY a slight rest as the 30 year bond rate on the COT index the Commercial failed to take out their previous buying high set in april, so we could see bond rates go lower while the interest gets a bit higher attracting more investors into the American economy!
The Euro Bias- Moderate Buy!
Commercials- Current== (-106 256) previous ==(-102 594) change == (-3 662)
Non-Com- Current== 75 222 previous== 72 562 change ==2 660
Open interest- current== 556 749 previous== 547 206 change== 9 543
What this tells us is that the Commercials are still selling to the Non-Commercials and this is deduced from the increase of the Open Intrest. The euro makes up ike 56% of the DXY and this currency is a moderate buy! now what i want to see is another increase in long orders so the COT index exceedes the current Buy level. Its no Seceret that Germany is the Back Bone of the Euro providing 20% to the Union Budget followed by France and the UK at 15%. Now Germany's main Export are cars and other electronics and Platinum and Palladium are main metals for those as they provide for conduction in the electronic compntes and for emission parts on cars. Both metals took a hit in price and Commercial and Non-Commercials have relieved both sides during COVID-19 making both metals cheaper. now when the economy opens back up i would not be shocked if the main compaines that make these pieces of equipment and cars to buy a surplus to Hedge their physical position causing a slight dip initially in their profit share only to expand in the long run causing the Euro to grow stronger as Germany offers more to the Union Budget.
To Be Continued...
Silver Stand Out In The PM ClassGold creating moves to push higher holding a line of momentum to the upside. Could see a consolidation to the right to test the inner lower trend line rather than a test back into below consolidation
XAU:
Silver has given it a red hot nudge to the upside sitting within the 75% region of the upward channel. Note it has created a new outer trend line. For strength and maybe with the help from Gold we could see it fill the wick to the left, this comes with some resistance points to watch during the weeks trading
XAG:
Platinum on a path of its own trickling to the right. A dip below will see an APEX point. Platinum is battling a zone od previous price action to the left. A pop to create a new inner trend line is XPT’s mission
XPT:
Support & Resistance:
Price Considerations:
Switch assets:Dow Index versus Gold, Silver, Platinum, PalladiumThis shows the Quotient of the Dow Index versus Ounces of Precious Metals
Gold, Silver, Platin, Palladium
Ir shows whether metals are cheap or expensive compared to the Dow Index.
Low values mean: buy that metal, since it is cheap compared to
High values mean: sell that metal, since it is expensive compared to stocks
This is the game that the rich and wealthy play - switch between classes.
Gold Riding TL/ APEX, XAG Testing TL, XPT looking Up & AcrossDaily can see Gold flowing into the apex, a break above will take P action away from the previous consolidation and make P movement less sticky, alas a break downwards will consume it into this consolidation.
XAU:
Silver wants to join the up party focusing straight and trying to break the highs trend line. A break on Gold to the upside may see XAG move to around 17.6
XAG:
Platinum just sitting around moving slow downward with candle stick structure on the daily. And could retest the lower trend line to funnel into the APEX. Gold will dictate XPT’s next move.
XPT:
Platinum - Looking for lower time short entry Discussing the 5min and 1hr timeframes and laying out both a "possible" roadmap and the way that map can be navigated .....
US Markets Go Up, Gold & PM’s Loose Strength, Mixed Up WorldSeems S&P and Dow stole the precious metals energy this week… Just a quick update to see Gold falter here with a possible break of the inner lows trend line from the previous low. Silver and Platinum are in a slightly different position whilst sharing similar structure and the inner highs trend line dictating some resistance. End of week may condense through to an Apex situation or a test of there respective inner lows trend line.
Without further analysis for a more in-depth overview . Gold fails here, at this level to fall, XAG and XPT will tag a long for a look over the edge.
XAU:
XAG:
XPT:
Precious Metals To Follow Golds FlowPM’s will look to follow gold's move on a break of its inner lower trend line discussed in the previous post (see link below) This will see Silver & Platinum potentially retest the inner lows trend line or dribble to the APEX. A break to the upside on Gold will see XAG and XPT see resistance at their respective inner high trend lines
Gold:
Silver:
Platinum:
Gold Losing A Bit Of SteamGold has opened and moved to the downside $5 after open. For strength Gold needs to see the buyers push to resistance and punch through the R1 zone. A lack of this will see S1 Come into play.
In wider economics keep an eye on USA, if these markets see a rise, Gold may fall and thus Silver and platinum.
Will reassess Gold with a break of R1, the next few months the highs can still come into play (wider economic dynamics)
📈Support & Resistance📉*
Support Levels
1st Support Zone: 1715.858
2nd Support Zone: 1691.619
3rd Support Zone: 1670.246
Resistance Levels:
1st Resistance Zone: 1753.979
2nd Resistance Zone: 1751.174
3rd Resistance Zone: 1739.613
Price Level Consideration
All Time High Half Way Point: 960.480
Prominent High: NOW
Prominent Low: 1043.409
🐃 Bulls Verse Bears 🐻
🐃 Bullish above: BULLISH NOW
🐻 Bearish below: 1451.718
Monthly & Weekly Opens
Monthly Open:1686.008
Weekly Open: 1734.562
Platinum goes shortDaily perspective, the rally is broke. Don't trade without Price action confirmation in 1h TF to take that beauty R/R short trade.
Just wait, don't fomo don't rush.
Precious Metals On The Move NorthGold looking to pop or open into the APEX and GO
Silver holding within upward channel
Platinum also holding within upward channel
XAG & XPT to follow XAU if it breaks...
Platinum To Break Above Consolidation This WeekPlatinum Overview
Good ol’ XPT closed the week higher. If P action at Mondays open can push P action above this consolidation platinum could have a good week in the green. A hold above this and a follow of the likes of Gold and Silver could see price reach $880 within the next 2 weeks.
If American markets fall, will look to see the precious metals take a slight dip also, however will not fall with as much volatility.
Area of Interest
Focusing more on the internals and TA on the charts Platinum must hold the trend line from the lows, break through the inner high trend line freeing itself from the grasps of the last 2 weeks consolidation area. 820 will see some considerable resistance that bulls will have to fight to get higher.
📈Support & Resistance📉*
Support Levels
1st Support Zone: 755.484
2nd Support Zone: 713.468
3rd Support Zone: 682.747
Resistance Levels:
1st Resistance Zone: 799.035
2nd Resistance Zone: 818.817
3rd Resistance Zone: 863.278
Price Level Consideration
All Time High Half Way Point: 1151.080
Prominent High: 1020.971
Prominent Low: 563.635
🐃 Bulls Verse Bears 🐻
🐃 Bullish above: 918.377
🐻 Bearish below: BEARISH at the moment
Monthly & Weekly Opens
Monthly Open:776.026
Weekly Open: 771.095
Gold To Testing New Heights And HighsOuter Perspective (Monthly Chart)
Half way through the month of May and Gold is climbing seeing highs not seen since November 2012. Hopefully momentum and world dynamics in its favour to test levels depicted on the left hand side of the chart and breaks the wicks of 1795 and above.
Area of Interest
Looking to the highs. Gold is placed well into the close to open on Monday with a nice weekly candle. Buyers will see this fresh air on the charts and price levels having confidence. A test of the inner lows trend Line could be retested, so watch for bears playing here. Buyers will need to hold these levels steady. If highs are broken it tells you a lot about the economic sentiment worldwide at present....
Have a glorious weekend all.
📈Support & Resistance📉*
Support Levels
1st Support Zone: 1721.336
2nd Support Zone: 1702.869
3rd Support Zone: 1673.126
Resistance Levels:
1st Resistance Zone: 1753.979
2nd Resistance Zone: 1783.75
3rd Resistance Zone: 1814.26
Price Level Consideration
All Time High Half Way Point: 960.480
Prominent High: NOW
Prominent Low: 1043.409
🐃 Bulls Verse Bears 🐻
🐃 Bullish above: BULLISH NOW
🐻 Bearish below: 1451.718
Comparative against Silver & Platinum
