Platinum
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
XPT Consolidation & Compression To APEXPlatinum has consolidated sideways for the past 21 Days and compressing. If the Gold and silver markets move look for Platinum to follow with a bit more volatility. Current price is apexing and it can’t consolidate and move sideways forever…
📈Support & Resistance📉*
Support Levels
1st Support Zone: 755.484
2nd Support Zone: 713.468
3rd Support Zone: 682.747
Resistance Levels:
1st Resistance Zone: 780.572
2nd Resistance Zone: 804.047
3rd Resistance Zone: 830.968
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: Value Up In 2020Gold Overview
2020, what a year to be experiencing one of the most crazy periods of time in humanity. Alas the run up from the 1st of December 2015 has provided some ample trading signals and chart structure which I’ll intend on touching on. Covid has shaken the Gold market up and I’m not just talking about the charts, but physical. Here’s a brief overview on the current situation in 2020
Supply: With mining production falling 3% in quarter 1 this will go on to disrupt the rest of the year.
Central Banks: Remain net buyers of Gold with purchases up to 145 Tonnes / Russia suspense its gold purchases.
Technology: The electronics sector has seen a fall in demand dropping 7% since last year.
Jewellery: With rises prices due to cover saw this sector’s demand drop 39% with china (the largest jewellery market) experiencing 65% less demand.
Investment: Inflows into gold- backed ETFs surged with coin/bullion investment jumping. Note that western market up 36% verses 19% drop in Asia, china being 48% of that 19%. Collectively up 6%.
Thus this brings us to the charts:
Outer Perspective
Sitting high is gold. Price hasn’t seen these levels since September 2012. Let that sink in. Trend is bullish and the bulls are pushing. Remember that precise and volume need to take a breath here and there and at this point a retracement is understandable. A break of support below will show weakness however there is blood still circulating within the price muscle. A break of the highs will then contend with 2011/12 ATH prices.
Inner Perspective
Currently price is settling at levels of the weeks from 2-5 days ago falling $10 however holding strong above the apex of the previous high before a downward move (9 March 2020). At present and stated in outer perspective market taking a breather. The Inner Lower Trend with 2 touches could see a retest in price.
Area of Interest
Price may test The lower trend line and support at the zone around 1691, however we’ve been bouncing back and forth for nearly 20 days now. Keep an eye on the triangle for price to navigate these zones.
📈Support & Resistance📉*
Support Levels
1st Support Zone: 1691.46
2nd Support Zone: 1666.49
3rd Support Zone: 1627.26
Resistance Levels:
1st Resistance Zone: 1730.21
2nd Resistance Zone: 1783.75
3rd Resistance Zone: 1814.26
Price Level Consideration
All Time High Half Way Point: 960.480
Prominent High: 1703.717
Prominent Low: 1043.409
🐃 Bulls Verse Bears 🐻
🐃 Bullish above: BULLISH NOW
🐻 Bearish below: 1451.718
Monthly & Weekly Opens
Monthly Open:1686.008
Weekly Open: 1703.717
Comparative against Silver & Platinum
Rhodium - Hyperwave chartRhodium - Hyperwave chart
On Phase 7 - demand shock , supply shock - lets see what happens
Platinum - Completed a HYPERWAVE cycle Platinum - Completed a HYPERWAVE cycle , potentially starting a new phase 1 on the weekly
Palladium demand destructionThanks for viewing,
Some view platinum and palladium not as investment petals for various reasons, others disagree. I prefer (in rank) 1. gold (bullish), 2, silver (neutral), platinum (bearish). Platinum makes the list because I can purchase it in small increments - while palladium was only available in a minimum of 1oz coins (which had high premiums - as coins in general do). That said, I expect platinum to also show future weakness - potentially going sub $350ish - which is okay as it is a strategic metal that is relevant to defence applications among other things. The reasons I expect weakness in demand for Platinum (currently oversupplied) are the same as for Palladium (under-supply);
Palladium has had a huge run since 2008 - peaking at 16.5x and now at 10.5x over that time period. The major driver was a supply demand mis-match caused from strong demand from auto-catalysts for petrol vehicles. All that has changed dramatically in a short period. Demand has been destroyed for new motor vehicles. Light vehicle sales were down 34.6% in March www.marklines.com and that drop will be over-shadowed by the April drop. Hopefully, these drops are short-term and will bounce back shortly - like vehicle demand in China did - although estimates vary on the time-frame. I suspect we will see near-term demand reduced from 2019 levels for all of 2020.
Medium and long term factors are both negative for those expecting internal combustion light vehicles production levels to bounce bank to new highs. The most major impact will come from an unfolding de-leveraging. For those that blame the health crisis for 100% of the economic woes, please cast your eye a few months back when we had;
- an inverted yield curve,
- downgrades of global and regional GDP growth announced by the IMF, World Bank, BOJ, ECB, Fed etc etc,
- Cautions on the level of sovereign, corporate, and household debt levels,
- Interest rates in the US repo market spiking to over 11%,
- The Fed started QE4, or what they called "definitely not QE4",
- Large investment banks were announcing they were advising their clients to sell US equities because they saw limited upside remaining,
- The US continued on its longest and weakest economic expansion in history.
My general view is that this health crisis with its associated economic contraction brought forward (and exacerbated) what was already just around the corner - a recession.
Any deleveraging event was always going to have to be more significant than 2008-9 simply because debt levels are so much greater now - while incomes have stayed flat. So this will necessarily impact on discretionary consumer demand (and availability of consumer credit) for some time.
Price targets; 1300 should provide some support, stronger support at the $1140, and $1100 levels. 1:1 extension of the recent steep drop at $1060. This level may cause a strong bounce in 6 - 12 months (depending on industrial demand pick-up) - but after that who knows. The trajectory now seems to be away from diesel vehicles, especially since the VW scandal (which hasn't yet fully unfolded to reveal just how wide-spread the massaging of emissions results among the industry as a whole). Medium to long-term, there is every possibility that Palladium's new home will be below $1100.
Protect those funds everyone
PLATINUM (USD) Monthly, Weekly & DailyDates in the future with the greatest probability for a price high or price low.
The Djinn Predictive Indicators are simple mathematical equations. Once an equation is given to Siri the algorithm provides the future price swing date. Djinn Indicators work on all charts, for any asset category and in all time frames. Occasionally a Djinn Predictive Indicator will miss its prediction date by one candlestick. If multiple Djinn prediction dates are missed and are plowed through by same color Henikin Ashi candles the asset is being "reset". The "reset" is complete when Henikin Ashi candles are back in sync with Djinn price high or low prediction dates.
One way the Djinn Indicator is used to enter and exit trades:
For best results trade in the direction of the trend.
The Linear Regression channel is used to determine trend direction. The Linear Regression is set at 2 -2 30.
When a green Henikin Ashi candle intersects with the linear regression upper deviation line (green line) and both indicators intersect with a Djinn prediction date a sell is triggered.
When a red Henikin Ashi candle intersects with the linear regression lower deviation line (red line) and both indicators intersect with a Djinn prediction date a buy is triggered.
This trading strategy works on daily, weekly and Monthly Djinn Predictive charts.
Trades made when the monthly, weekly and daily arrows are pointing in the same direction are the most profitable.
This is not trading advice. Trade at your own risk.
PLATINUM (USD) Monthly, Weekly & DailyDates in the future with the greatest probability for a price high or price low.
The Djinn Predictive Indicators are simple mathematical equations. Once an equation is given to Siri the algorithm provides the future price swing date. Djinn Indicators work on all charts, for any asset category and in all time frames. Occasionally a Djinn Predictive Indicator will miss its prediction date by one candlestick. If multiple Djinn prediction dates are missed and are plowed through by same color Henikin Ashi candles the asset is being "reset". The "reset" is complete when Henikin Ashi candles are back in sync with Djinn price high or low prediction dates.
One way the Djinn Indicator is used to enter and exit trades:
For best results trade in the direction of the trend.
The Linear Regression channel is used to determine trend direction. The Linear Regression is set at 2 -2 30.
When a green Henikin Ashi candle intersects with the linear regression upper deviation line (green line) and both indicators intersect with a Djinn prediction date a sell is triggered.
When a red Henikin Ashi candle intersects with the linear regression lower deviation line (red line) and both indicators intersect with a Djinn prediction date a buy is triggered.
This trading strategy works on daily, weekly and Monthly Djinn Predictive charts.
Trades made when the monthly, weekly and daily arrows are pointing in the same direction are the most profitable.
This is not trading advice. Trade at your own risk.
XAU/USD textbook 5 wave impulseI expect Gold to reach all time highs. I will post the lower time frame wave count also.
Trendline breakA weekly close above the black trendline would likely lead to a retest of dotted magenta resistance at $1011.xx
