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Platinum

Platinum Looks BADYou might be wondering where that channel came from. Well I looked at 40 years of historical platinum prices and that's the channel that is formed. So not only is XPT sitting on the support it has established for 15 years making a bear flag, it it is breaking it's supply/demand channel that it took 40 years to establish. Breaking this long term support and even longer term channel would be incredibly bearish for Platinum, especially as gold gears up for what looks like an epic run. Below 750 is the abyss. Fundamental Speculation: I don't do fundamentals usually but this might make sense. Catalytic converts are a major use for platinum and electrification basically kills this use case, even with us being far from full adoption
OANDA:XPTUSDShort
by PJBTrade
GOLD vs PLATINUMHi everyone, Just to share some thoughts. The World Platinum Investment Council has reduced its surplus supply forecast by close to 50% for 2019 due to investment demand. Bear in mind that it is still in surplus, so I don't imagine that the bottom is in yet. Platinum outperforms gold in good times and bad. Since 2003 Platinum significantly out-performed gold (smaller market than gold) but was more heavily impacted by forecast reductions in industrial demand. So I think looking forward it would be safe to say that Platinum is primarily driven by industrial demand while gold is primarily investment driven. So platinum reached its ATH (higher than gold ATH) in 2008 vs gold in 2011. It has out-performed gold on the downside too. I am starting to be quite interested in Platinum, however, think that there is lower to go because: - Industrial demand hasn't picked up (but seems to actually be dropping), - US PMI is way down, - global economic outlook has been reduced by the IMF (outlooks are generally gloomy - we have seen how Platinum reacts in a recession. If 2020 is a recession like a lot of people are pointing to, it would be very difficult to be bullish on Platinum), - Global outlook for motor vehicle sales is down - Platinum is commonly used as a catalytic converter of pollutants in car exhausts. - It hasn't yet met made a 1:1 extension of wave (A) or normal extension of wave C down (I think wave C is about 75% complete with a possible dip to sub-$500), - Any break below $760 territory would point to further correction of Platinum, - Supply is likely to be increased if the price picks up either by processing mining stockpiles, expansion of operations, or by increasing recycling as the prices pick up (presently recycling is down - likely waiting for higher prices), - Given recent US politicians' seemingly anti-environmental stance - the requirement for Catalytic converters could foreseeably be repealed by imperial decree (like the need of coal mines not to dump tailings into waterways) - this could cause a significant reduction in demand for Rhodium, Platinum, and Palladium. This said, presently 90% of cars produced globally have a catalytic converter fitted and the rest of the world would be expected to retain or strengthen limits on exhaust emissions so it would erode export demand for US vehicles, - There is far more interest in electrical, or alternative fuel vehicles which points to long-term pressure on automotive industrial demand. So is it all doom and gloom? An important sign to watch for is for any progress in research on Platinum as a catalyst for the refining and conversion of exhaust of gasoline / petrol. Also, if gold continues its bullish sentiment, this will likely cause upward momentum on Platinum from first investors, and later, from industrial sources (that have to buy). So is there and easy way to buy physical Platinum or is an ETF easier? I would buy physical platinum via bullionstar.com (I am not an affiliate) in Singapore rather than an ETF. The premiums and spreads can be quite low: its Bullion Savings Program Platinum offering (today) presently 3.64% over spot price and 3.51% over buy-back price and vault storage fees are low and the physical metal can be withdrawn or just purchased in their shop. My concern with ETFs (the way most people invest in metals) is that ETFs sell far more "shares" in physical metal than they hold and if the price spikes significantly they will likely be closed and neither be able to pay you back or to send you physical metal. When the price spikes it is very difficult to actually get your hands on the physical metal. Long story short, I will likely be a buyer around $550 and below. Thanks for viewing
TVC:GOLD
by flyinkiwi10
1
XPTUSD: Medium term buy opportunity.Platinum has been trading within a bullish Megaphone pattern on 1W that is has now completed its bearish leg and is consolidating on the Higher Low zone (RSI = 45.796). We are expecting this consolidating to form the 1D Support for the next bullish leg towards the next Higher High. This is calculated to be around +18/19% from the current levels based on a +8% sequence on Higher Highs. The RSI patterns are also similar. We are going long on the medium term with TP = 937.00. ** If you like our free content follow our profile (www.tradingview.com) to get more daily ideas. ** Comments and likes are greatly appreciated.
FX_IDC:XPTUSDLong
by InvestingScope
3
PLATINUM - Blade RunnerI guess a few of you missed the last weeks' big opportunity in gold. But as you know there is always another trade. In this idea I will show you how this trade can overperform our next gold long trade. While we are shorting gold and waiting to print a DCL there's always worth looking around the metal sector which will switch from the late runner to a blade runner. Platinum is an interesting asset. There were times Platinum was more expensive than gold... If you watch the comparing idea chart closely you will see that the two metals were moving in the tandem in the past. In the last intermediate cycle ( highlighted by purple verticals the previous ICLs and red arrows the DCLs) platinum was catching up only in the 3rd daily cycle and it printed the big gains in a few days. As we are preparing to catch gold's DCL it's worth watching platinum also because this time it might rally hard in the 2nd DCL and not the third. I already started to take positions in platinum. As I'm shorting gold the margin requirements are quite cheap in a platinum long position. So this is a type of hedge against our gold shorts with platinum longs which probably has much bigger potentials in the second daily cycle than gold. It might start to run 2-3 days from now - when gold prints its DCL - or it might print an undercut DCL first and start the big rally after that. I think platinum is going to finish the present intermediate cycle at minimum 1022 maybe higher. ( IMPORTANT : Platinum has higher spreads and higher margin requirements than gold, before you buy check it with your broker, or start a smaller position)
OANDA:XAUUSDLong
by chartwatchers
9