Platinum 1W outlook for 2017$1300 area in 2017 as Fed will not raise rates, and Trump will spend on industrials. (Also bull divergence on RSI)
Platinum will take off as it is both a safe haven and is used industrially.
Platinum
Platinum to prv lows 800-820 1: Bearish wedge
2: Under Kumo, bearish
3: Smoothed RSI resistance at 50%
4: Fundamental reports of higher supply than demand 3q2016 and into 2017
New Bull Starting in Platinum?A few interesting points about XPTUSD and why it might be time to look at long positions:
1. 7-Year cycle in XPTUSD is bottoming out right now.
2. We are seeing a backtest of the initial breakout similar to what happened in 2000-2001
3. XPTUSD production is going to see major cutbacks moving forward from South Africa
4. Above ground stocks are winding down which has put extreme pressure on prices for the last 4 years
5. Should the DYX fail to breakout decisively over 102 before the end of 2016, then the ZARUSD could strengthen.
Buy platinum on Strong support Platinum Trading around 914 near its monthly low it can bounce back as corrective move from current level or from 895-900 level toward 950-970
Advice to buy pair in range of 914-890 sl below 870 TP 955
Platinum Makes UptrendPlatinum has been pretty wild for the past few days. True, it is still lower than heck on the daily, but notice how the hourly has started an uptrend. This could be a chance in on the ground floor before a large move upward if the support line holds. Price action is yet to confirm.
sPLAT!?!I'm not sure if a Head & Shoulders pattern is the correct interpretation here, albeit, a neckline is fairly visible. Further, the probability of its breach increases with every re-test.
Watch for the break - JLPStill in a consistent, long term trading range. Watching for the confirmed break upwards from 3.7p (will need hi volume to break 4p). Holding above the 200MA more recently which is keeping things tighter. Wait for now. LSE:JLP
PLATINUM - BULLISH GARTLEY COMPLETEDThis bullish Gartley completed about 2 hours ago...steep downtrend so i am waiting for RSI to be overbought on 4hr...a bottoming formation .and ideally a break of the downtrend....lots of upside potential...
A clue for direction of Gold and silver??
Platinum Long setupHello Traders
Platinum is on the lower trendline for the 3 rd time and also near of the previous high support at 1020. It is a good long opurtunity. SL below 970, TP at 1230, 1250
98 PL1! Weekly Complex HSB BreakoutWeekly Complex Head and Shoulders Bottom breakout on platinum futures.
According to Bulkowski's chart patterns theory, this security could rise until :
1124: 1st Target
1206 : 2nd Target
1265 : 3rd Target
938 : Invalidation Stop
Warning : Trading involves risks. Be careful to trade only a small amount of your capital on each trade.
Short platinum As the idea states. Short platinum till it reaches 1047 USD. It might do the pattern described with the arrows.
www.tradingview.com
TL REVERSAL. LONG XPT (buy daily lows)Trendline broke to north.
XPT can be traded in both ways most days.
Next week:
buy daily lows, hold.
TP1: 1073.x
TP2: 1099.x
Potential Long-Term CALL on PLATINUMWatching for a strong move to the upside on the 5th wave of this impulse wave. Will wait for MACD to cross to the upside and for price to close above 50 MA before making call. Extra confirmation would be price closing above 100% Fib level.
Platinum - Head over ShouldersDear Community,
today we have a quite interesting setup concerning Platinum. It is actually more a possible- than an expected setup but still worth mentioning.
As you can see in the chart we are expecting the formation of a SHOULDER - HEAD - SHOULDER formation, highlighted in red semi-circles. If this scenario kicks in, we could easily dip deep into the intermediate target zone at around $960. However, there is a very good chance that, if all clicks into place, it will fall through the intermediate zone, following our optimal scenario and therefore primary target ay $811.
If you follow us on our premium analysis you will know that we have opened a short position a few days back, aiming for the intermediate and hopefully the primary target. It looks good so far but we need to keep an eye on it for sure.
Good luck.
Platinum Futures Weekly Continuation ChartI like the inverse head and shoulders in the weekly continuation chart in platinum, of all the metals, this one looks to be the most promising going forward. Good support around 1100-1105. A break of 1200 could set the next target at 1300
New Potential Short on PlatinumMy previous short idea for platinum didn't work out as price violated the red trend line in a strong way to the upside. Now price has reversed down again and it looks like the bearish momentum will continue. The first trend line to pay attention to is the blue one. If that one breaks, I would expect further resistance at the red trend line, which will help us stay in the trade and not get stopped out.
Good R:R Short PlatinumXPTUSD has just ended a strong uptrend and now started to trend lower again. Price appears to respect the trend line with three tests so far. This is a good potential entry point for shorts. About 4.30% downside until first major resistance.
Platinum Futures SHOTSHORT
TDI = Overbought
Stochastic = Overbought
Channel lines are parallel and showing rejection NOW
