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Platinum

Platinum Contrarian Trade (Need confirmation)- Price remains constructive to trade higher within the rising bullish channel - Overhead resistance approaching near 1080 - 1100 price levels - Weekly RSI is bullish but overbought - look out for the 100 weekly MA currently at 1121 for resistance too - Looking for a short trade at the top of the bullish channel which coincide with 38.2% Fibo move from 2014 high to 2016 low - Looking at entry at 1087 with stops at 10 and targets a retest of 1000 level at least to make the RR worth it (mind you entry levels might change as we wait for a confirm signal) - Failure there, we will look for another entry but the risk reward has shifted in favour of a run lower - However, this trade will need a confirmation from daily candles if a reversal is in place
X
by sugardaddyFED
Platinum: Long-Term ViewPlatinum has been in a correction since 2008. Since then it has established a clear lower support of this massive sideways move. Even though the current market phase is a correction, it yielded some opportunities to make profits. Right now price is appraoching the balance zone, but the lower support hasn't been hit in that internal downtrend that was going on since the beginning of 2015. New lows are possible before the correction could come to an end as price bounces off of that major support level.
FX_IDC:XPTUSDLong
by theTrendtradr
It's metal timeAll precious metals started a bull market a couple of months ago and they're consolidating. The difference with palladium which makes him more interesting than the others (silver, gold and platinum) is that he's the only one that hasn't made the golden cross: 50 over 200MA. I made a rough linear approximation and this should come somewhere in the middle of may. Please observe the behavior of the other metals when this situation occurred. The Ichimoku proved to be useful as a support level in gold on the last drop, and it is the case here too. However I believe it is climbing too fast, so there will be some correction in the short term, but staying inside the pitchfork. Good luck with your trades, and please share your comments.
XLong
by purpurato59
Triple topPlatinum along with other precious metals started a bull market around february. After two attempts to climb above 1000, we are now at the third of these tops and heading towards correction. I still believe the primary trend is upwards and support will be met with 50MA around 960. Note that last three new moons (blue spots) market peaked and reached bottom around the full moon (white spots). This is definitely no coincidence and you can check it on other occasions and other markets, specially silver.
XShort
by purpurato59
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