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Platinum

UPDATE Sibanye Stillwater is about to waterfall down to R16.89Since the last update, Sibanye is heading to the first target. We have a long way to go, so you can see the update here. There has been an Inverse Cup and Handle form on Daily. This is definitely deemed a medium term trade. But luckily with shorts, we earn interest income. 200>21>7 - Bearish RSI<50 Target R16.89 ABOUT THE COMPANY Sibanye Stillwater is a South African mining company that specializes in precious metals mining, particularly gold and platinum group metals (PGMs). The company was formed in 2013 as a result of a merger between Sibanye Gold and Stillwater Mining Company, an American PGM mining company. Sibanye Stillwater is headquartered in Johannesburg, South Africa, and has operations both in South Africa and the United States. The company operates several mines in South Africa, including the Driefontein, Kloof, and Beatrix mines, which are all located in the Witwatersrand Basin. Sibanye Stillwater's PGM operations in the United States are centered around the Stillwater and East Boulder mines in Montana. These mines are known for their production of palladium and platinum. Sibanye Stillwater is listed on the Johannesburg Stock Exchange (JSE) in South Africa and also has a secondary listing on the New York Stock Exchange (NYSE).
JSE:SSWShort
by Timonrosso
Jubilee W Formation but with warning target to R2.95W Formation clearly formed on the daily. We had a false breakout to the upside, but then price went right back into the W. 7>21 Price<200 RSI>50 Target R2.95 WARNING There are three problems. 1. The JSE ALSI 40 is still within the downside of the symmetrical triangle as it had a fald breakout. This has sent shorting vibes. 2. The penny stock is highly illiquid and volatile. So one candle up breakaway is most times not enough for a strong confirmed change in direction. 3. Metals are currently pointing down which will bring down the smaller companies. I'm bullish and the charts say up, but I don't think they are ripe for the picking yet. ABOUT THE COMPANY Jubilee Metals Group plc is a mining and exploration company that specializes in the reprocessing of historical mine tailings and surface material. Jubilee Metals Group plc, commonly known as Jubilee Metals, is a British company headquartered in London, United Kingdom. The company was founded in 2002 and was initially focused on platinum exploration in South Africa. Jubilee Metals has since evolved into a multi-metal producer, with a strong focus on platinum group metals (PGMs), chrome, and other base metals. The company employs innovative proprietary technologies to recover valuable metals from waste materials, such as mine tailings and surface material. Jubilee Metals has developed a unique processing method called the ConRoast process, which enables the efficient extraction of PGMs and base metals from various feed sources. The company's operations are primarily based in South Africa, where it has established processing facilities and strategic partnerships with mining companies. The company focuses on acquiring and reprocessing underperforming mining operations, extracting value from previously overlooked or discarded materials. In addition to its operations in South Africa, Jubilee Metals has expanded its presence to other countries, including Zambia and Mozambique. The company has established strategic partnerships with major mining companies, such as Anglo American Platinum, to leverage their existing infrastructure and enhance its operational capabilities. Jubilee Metals' shares are listed on the London Stock Exchange's Alternative Investment Market (AIM) and the Johannesburg Stock Exchange (JSE), allowing investors to participate in the company's growth.
JSE:JBLLong
by Timonrosso
Anglo American PLatinum just chose a direction - DOWN to R743.65After the AMS stock tricked us showing upside to come with the downtrend broken. This is where Smart Money clearly came in and sold the hell out of it. Now there is an M Formation accompanied with a Bearish Engulfing candle. This is more bearish than not. 200>21>7 - Bear RSI<50 Target R743.65 ABOUT THE COMPANY Anglo American Platinum Limited is a South African company and is the world's leading primary producer of platinum group metals (PGMs). The company was incorporated in 1946. Amplats is a member of the Anglo American plc Group, a multinational mining company with a diverse range of mining operations worldwide. The company is listed on the Johannesburg Stock Exchange (JSE) under the ticker symbol AMS. Anglo American Platinum operates a portfolio of mines across South Africa and in Zimbabwe. Their portfolio includes key operations such as Mogalakwena, Amandelbult, Unki, and Mototolo. In addition to mining, the company is also involved in smelting, refining, and the marketing of platinum group metals. Amplats produces several PGMs, including platinum, palladium, rhodium, iridium, ruthenium, and osmium. The company's products are used in a wide range of industries, from jewelry to automobile catalytic converters, in electronics, and for industrial applications. HOW IT GOT ITS NAME Anglo American Platinum Limited, often referred to as Amplats, derived its name from its parent company, Anglo American plc, and its primary business of platinum production. "Anglo American" reflects the origins of the parent company, which was established in 1917 by Sir Ernest Oppenheimer. The company was initially funded by British and American capital, hence the name "Anglo American."
JSE:AMSShort
by Timonrosso
2
Platinum is at the triple supportPlatinum hit the triple support: weekly S2 pivot points, green lower band of up trend and horizontal band from long-term price action. Platinum is so cheap compared to historical prices and gold. It seems that NASDAQ:NDX vacuums some money from commodities and crypto, but stock market is close to a correction which may bring some money back to commodities. I expect OANDA:XPTUSD would over-perform Silver and Gold. Disclaimer – WhaleGambit. Please be reminded – you alone are responsible for your trading – both gains and losses. There is a very high degree of risk involved in trading. The technical analysis , like all indicators, strategies, columns, articles and other features accessible on/though this site is for informational purposes only and should not be construed as investment advice by you. Your use of the technical analysis , as would also your use of all mentioned indicators, strategies, columns, articles and all other features, is entirely at your own risk and it is your sole responsibility to evaluate the accuracy, completeness and usefulness (including suitability) of the information. You should assess the risk of any trade with your financial adviser and make your own independent decision(s) regarding any tradable products which may be the subject matter of the technical analysis or any of the said indicators, strategies, columns, articles and all other features.
OANDA:XPTUSD
by WhaleGambit
Platinum, could this be a new swing higher?Today's focus: Platinum Pattern – Support hold, trend break Possible targets – 1070 Support – 993 Resistance – 1035, 1070 Today’s update is on Platinum. We have run over our thoughts and levels we are watching. Yesterday’s solid rally has held support and has started to test support after breaking the current downtrend. Will we see buyers clear resistance and confirm the trend break? Thanks for stopping by. Good trading, and have a great day.
EIGHTCAP:XPTUSDLong
by Eightcap
Platinum's Bearish Path: A Closer Look at the Price ActionPlatinum continues to be confined within a persistent bearish channel, characterized by a pattern of lower highs and lower lows in its price movement. This ongoing trend suggests a prevailing bearish sentiment in the market. As the price of platinum remains locked within this channel, there is a possibility of a new bearish impulse emerging. Given the current market conditions and the downward trajectory of platinum, our target for the foreseeable future remains at $985. This target signifies a further decline in the price of platinum, aligning with the prevailing bearish outlook. Traders and investors should closely monitor the price action and market developments to assess potential opportunities within this bearish context.
TVC:PLATINUMShort
by DAY_PROFITS
12
XPTUSD Buy opportunity with High expected in June.Platinum (XPTUSD) is trading on a Triangle pattern which is within a larger Channel Up. Last time we had this sequence on patterns was last November-December. Once the price hit the 1D MA50 (blue trend-line), it rebounded to the 1.5 Fibonacci extension. The current 1.5 Fib is at 1180 but we set a Target slightly lower at 1170. Notice how even the 1D MACD sequences between the two fractals are identical. ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
FX_IDC:XPTUSDLong
by TradingShot
1H2023 USD/ZAR (weekly timeframe)Background (a quick look back): The rand's covid recovery, on the back of the Fed’s QE infinity policy and a strong commodities rally, ended in June 2021 after the rand managed to pull the pair to a low of 13.40. The rand got hit by a quick one-two in the middle of 2021 as the DXY found support around 90.00 and the local riots in July which saw the local unit tumble to 16.40 by November. This created the first major impulse wave. The rand managed to pull the pair to a low of 14.40 in 1Q2022, but the party ended when the Fed started its current interest rate hiking cycle at the end of the quarter. Platinum prices also topped out at $1156/oz in the beginning of March 2022. The hiking cycle, external geo-political, global recession, local energy uncertainties and a 28% decline in platinum prices (from March to September) pulled the pair into a 5-wave rip tide (orange channel) to a yearly high of 18.60. The final quarter of 2022 saw the rand stage an ABC corrective pattern which allowed the local unit to pull the pair onto the 38.2% Fibo retracement rate of 16.86. The main factors which supported the rand’s recovery was the DXY which fell off its high of 114 in September and the price of platinum which bottomed at $825/oz in the same month. Platinum has since gained roughly 32% and closed on a high of $1088/oz in the first week of January 2023. Present (where to next): The rand managed to pull the pair onto the critical 61.8% Fibo retracement level of 16.80 from the covid recovery (green) in the first week of January 2023 after a stronger than expected non-farm payrolls report sent the DXY and US 10-year yields tumbling. The critical support range between 16.40 (top of impulse wave 1 and 50% orange Fibo retracement) and 16.80 will give an indication for the rand’s trajectory in 1H2023. The 50-week MA rate of also sits satisfyingly in this range at 16.47. Support: A break below 16.80 will allow the rand to test the 50-week MA and the bottom of the support range at 16.40, the top of the major first wave. A break below the support range will invalidate the major 5-wave impulse wave which could see the pair fall between the orange 61.8% Fibo retracement rate of 15.88 and the 50% green retracement rate of 16.09. The best-case scenario for the local unit in my opinion is an appreciation onto the 200-week MA rate of 15.61 (this move does not seem highly likely now since the Fed is only expected to ease/pause its hiking cycle in the 2H2023). Resistance: The first resistance rate which needs to give way for continued rand weakness sits at 17.30, the top of the orange third wave. A break above 17.30 will allow the pair to climb to the top of the corrective wave B at 17.96 and the psychological rate of 18.00. A close above 18.00 will confirm the fifth impulse wave to the covid high of 19.35. Technical indicators: The weekly RSI is still trending upwards since hitting the oversold range in June 2021 and is current at a neutral level of 49.21 which is rand negative. The weekly MACD is currently holding a sell signal which is rand positive but the gap between the 12 and 26 EMA’s seems to be closing. (SA is the world's leading platinum producer and the rand behaves like a commodity currency hence the emphasis on platinum price action in the description)
by Goose96
3
PLATINUM BREAKOUTS X 3 Platinum Futures At present Precious Metals all seem to have the wind at their back on longer timeframes. - A H&S pattern with a potential breakout within a - Cup&handle with a potential breakout within a - A long term pennant with a potential breakout. RSI Indications - You can see how the green/red circles and resistance lines provided great entries and exits. - We are approaching the upped resistance line and I would expect some resistance here which aligns with the resistance of the Cup and Handle (which aligns with historic price resistance) - Use the RSI resistance lines to help manage risk. In summary I am long term bullish however if we breach the bottom of the long term pennant... we exit the trade. RR is great here if you set a stop under the pennant resistance, this being for a long term 36 - 60 motnh trade. There are also lots of short term opportunities in this chart from the three patterns identified. These you can see and manage within your own timelines using the chart lines as reference points for buy and sells. Thanks PUKA
NYMEX:PL1!Long
by PukaCharts
Anglo American PLatinum setting for upside potential to R1,644Potential Cup and Handle is forming on the daily. We are seeing higher lows form and the supply side is dwindling. Once we get a break above the brim level, it'll be all systems go. 7>21 Price <200 - Bearish RSI>50 -bullish Target R1,644.61 SMC: Sell Side Liquidity order block has formed below the formation. Each time the price touches, it runs up. That's because Smart Money comes in sweeps the selling from (Shorters) and long traders who gets stopped. They buy into the orders, which push the price up. This gives bullish bias.
JSE:AMSLong
by Timonrosso
Will Platinum price explode to the upside?Since the Platinum Bobble burst back in 2008, the price was unable to recover, regardless of the all-time high on other PMs. However, looking at the weekly posted chart we can see that the low after the burst held extremely strong, and after January's higher low, XptUsd also has broken above the falling trend line. At this moment the road to 1350 resistance is cleared (medium term) and, a break above this level could lead to further gains to 2k in the long term.
OANDA:XPTUSD
by Mihai_Iacob
Precious Metals are going places! Hi Traders As we have been seeing very volatile markets in the past week, trading any direction currently is not easy. It is now, more important than ever, to stick to your strategy and do not let yourself be distracted from potential gains you are missing out on. The worst thing you can do to your portfolio is FOMO. Stay cool-headed and trade the obvious. Precious metals are of interest to investors and traders currently due to arising macroeconomic uncertainties that have been evolving over the course of the past 3 years. But also recent news have been filled with a lot of FUD regarding the banking sector in the US, bailouts in a high interest rate environment and many more things happening currently. Crypto but also precious metals have seen fantastic gains since the start of the week, thanks to investor running away from the legacy markets and trying to find more safety in the digital and physical safe havens. As Gold looks quite strong, I will be discussing a potential long trade idea below, please understand that gold is sitting on a strong resistance at 1920 USD that has historically been though to smash through, therefore sticking to the plan will be crucial for execution. Here is my Game Plan for XAUUSD: - Reclaim of 1910 entering range of between 1910 and 1930 - Hold above range for a significant amount of time - Price needs to be trending upwards - Smooth price action is a prerequisite for this trade - Consolidation right under upper half of the violet box - Entry upon break of box - T1 1947 USD - T2 1966 USD - Stop will be disclosed once trade has been entered Trading needs a plan, only a plan can give you orientation. Sticking to the plan means that you will have a reproducible procedure which can be assessed for mistakes and learnings. It is comparable to the scientific approach, the only difference is, a trader is not interested in facts, he is interested in gains. Please make sure to leave a like and a comment if you liked what you have been reading. Also follow me if you like my approach combining macroeconomic news, fundamentals and technical analysis. Have a good one legends Best CH
FOREXCOM:XAUUSDLong
by TraderCHgold
Does Platinum rhyme with Bailout?Mo money Mo problems. The philosopher Notorious B.I.G. used to sing about that. With the unlimited backstops to deposits and blank checks being thrown around, it might be a good time to review metals. Platinum is more rare than gold. Historically it has traded at a premium to the gold price. Currently trades for about half the gold price. All time high in platinum is 2290, but those dollar were pre 2008 bail out dollars. As gold nears all time highs over 2k, I cant help but wonder what could happen with Platinum. in inflationary times metal do pretty well historically. and since deflation is being bailed out with the banks, the inflation case is more likely now than last month.
TVC:PLATINUMLong
by optionfarmers