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Platinum

Gold is targeting $1860 & $1899 - Beyond $2300 in 2023Gold is doing what Gold always does in a Deprecionary Cycle Phase - sets up a momentum base, then start to build a momentum rally. Current base level is near $1670 to $1710. Normal rally results in a $400 to $475 rally phase before exhausting. My initial targets, $1860 & $1899, are just the first stage of the rally trend. Upside targets for exhaustion should be near $2150 to $2225. Remember, this is just the start of this rally (just like in 2003~05). The real rally in Gold will start in 2027~2030. Follow my research.
COMEX:GC1!Long
by BradMatheny
Silver is up 32% from Sept 1 - Ready for the next move higher?Have you been following my research, weekly videos, and Custom Metals Indexes? If so, you already know why I've been telling traders/investors Gold/Silver are setting up just like 2003-04: building a momentum base over the past 24+ months. The next move higher (over the next 5+ years) should be incredible. Silver is up 32% over the past 90 days. Can you imagine what the next 500+ days will look like? Remember what happened to Silver between 2007~2011? Imagine that, but with a potential amplitude of 2x or 3x. Get ready, it's all just getting started right now. Follow my research. Learn why you need to prepare for the biggest opportunities of your life with my research/algos.
COMEX:SI1!Long
by BradMatheny
PLATINUM The 1D MA50 is the key. Potential long-term bull.Platinum (XPTUSD) has been trading within a (very) long-term Triangle pattern since the September 24 2020 Low. That was the low that initiated a massive rally to the February 16 2021 High that started the long-term Lower Highs trend-line, which lastly rejected the price November 11 2022. The 1D MA50 (blue trend-line) is the key here. As long as it holds, there are good chances that Platinum will push for another Lower Highs test and potentially a break-out, targeting the 0.618 Fibonacci level. If the 1D MA50 breaks, we will pursue the Symmetrical Support Zone as our short-term target and the September 24 2020 low (830.00) as our long-term. ------------------------------------------------------------------------------- ** Please LIKE 👍, SUBSCRIBE ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support me, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- You may also TELL ME 🙋‍♀️🙋‍♂️ in the comments section which symbol you want me to analyze next and on which time-frame. The one with the most posts will be published tomorrow! 👏🎁 ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
FX_IDC:XPTUSD
by TradingShot
1
Gold GC1 - A New ATH is Simply a Fantasy. But, a Big Trade Brewsis this thing that has traded like a boat anchor, as much of a boat anchor as Bitcoin . More or less not moving at all. Yet, as with all things, consolidation periods only last for so long before the volatility picks up again to draw in new attention. This chart is a huge amount of time and very wide ranges and so it's very hard to stuff the important info into the part associated with this call. You'll have to read my wall of text for it to all make sense. Many have wondered, myself included, how Gold could have failed to make a new high during its post-Russian Federation invasion of Ukraine pump to $2078. I myself traded this during that time and had months worth of longs established at $1,600, $1,700, $1,800 and missed the chance to get out at a profit, waiting for it to set a new high. I was very confused. Over the months, I have upgraded myself significantly and I now understand why. It's simple: Market makers were simply attacking the area above the '11 $1,923 ATH. The fact that no new high was made indicates that MMs are heavy on the sell. Unfortunately for goldbugs, this means that a new all time high is literally a fantasy. It will happen, but not until significant downside conditions are met. The total range equilibrium between the $1,069 low in '16 and the post-COVID ATH is roughly $1,550. Until gold trades below this area and there are indications longs are accumulating, there will not be a move towards an ATH again. This can be seen with a study of the monthly: And the Weekly: This is reality. Just get in line with reality and you'll be able to: a) Save losses b) Book gains Gold has traded, since September, underneath a key low, and has not followed its counterpart Silver in taking significant north-side runs. Today during FOMC madness, the one time that gold really ought to have gone up to draw in buyers based on the notion of inflation hedging, it instead ran into resistance at that $1,670 level. This mostly assures that gold is headed to new lows. In my opinion, there are two scenarios, the first is much more likely than the second, and bodes well for bulls: 1) Gold trades to the low $1,500s for a discount versus the COVID-hysteria lows for the first time in almost two years. Should it show signs of life here, Gold should reverse and head back into the $1,850-$1,900 area. But be warned this type of trading pattern will not amount to a run towards a new all time high, although it will feel like it, and all the "gurus" will assure you it will be. This type of trading pattern will constitute more selling, because a longer term move downwards is happening. 2) Gold loses all life and heads towards the $1,350 area. This will be long term bullish because, after what is likely to be at least a year of accumulation, it means that a new all time high is inbound. I believe gold will drop as equities rally more. I think that when equities start to dump, this time gold will go up, because it will drag in goldbugs and ancap types who think the dollar is on the way out and the gold standard is coming back. After you buy their bags at $1,900, gold will be crushed and you'll buy high and sell back low. Note that in terms of Commitments of Traders , although commercials are their most long they've been in three years, they're still not net long. You won't see them be net long until the $1,300s. But before then, we should see Gold mimic the patterns of silver , because more selling is in store. A final word: The biggest market risk right now is not the Federal Reserve , or a recession. Neither is it Credit Suisse collapsing. A lot of things are going to go up, and may even go up a lot (Don't believe it? Take a look at what the Dow Jones just did. Some components made a new all time high in the middle of your "Hawkish Federal Reserve" and your "recession."). The greatest market risk is that the Chinese Communist Party will either collapse internally or be thrown away by "Emperor" Xi Jinping as he, and the nation of China, struggle to survive what is happening. When that day happens, 20% days down on the indexes are going to come and there won't be any bounces. Wall Street won't be in such a mood to market make anymore, because all their collusion with the Chinese Communist Party and their implicit passive and active support of the organ harvesting persecution of Falun Gong will have many of their members scuttle into hiding. Just wait and see. Nobody thought the USSR would ever fall, and yet, it did. Overnight. Tl; dr Gold --> $1,500 with little upside in between. This is a bear trap. Then big bounce to $1,850. But the big bounce is a bull trap.
COMEX:GC1!
by LordWrymouth
13
Are Precious Metals Finally Reacting To Fed Fear?Myself, like many others, continue to believe Precious Metals (#gold & #silver) are about to enter a very explosive price phase. The past 12+ months have seen Gold rally after COVID, then enter an extended decline phase as the speculative bubble distracted everyone from core value. Now that the Fed and GCBs are dancing around rate increases, higher inflation, and consumer demands, will Precious Metals shift direction and start a new up trend? Time will tell, but this recent Double-Bottom in Gold certainly looks promising. I'm still cautiously optimistic the past 10+ years of extremely easy money policies will setup a huge rally phase in Metals. Near Dec 2019, my main cycle system moved into a Depreciation cycle phase. That means we have until 2029+ for this cycle to continue to unwind. Remember that is still 6~7+ years from now. The unwinding phase will be very similar to the 2000~2009 Depreciation phase - sideways trends with extreme volatility. I expect a slow melt upward over the next 3+ years, eventually extending into a parabolic upward price trend (increasing in speed and volatility as we near 2028~29). This recent BASE ($1690) will probably turn into a very strong decades-long base/support. We've never been anywhere close to what is happening in the US/Global markets before. But I'm here to tell you the real fun start after 2026~27. Until then, the global markets are shifting in structure, attempting to find support - just like what happened near 1997~2001. Get ready for another 5+ years of big volatility and trends. Follow my research. Don't miss these huge trends.
COMEX:GC1!Long
by BradMatheny
Platinum (PL): Wave Analysis 1917-2022●● Preferred count ● Platinum Cash (PL.C), 🕐TF: 20D Fif.1 The counting of long-term waves only confirmed the priority of the scenario defined in the previous review, in the context of which the supercycly wave (V) unfolds the ending diagonal . This hypothesis assumes the continuation of price growth within wave III , which will take the form of a zigzag, exceeding the maximum of wave I . _______________________________________ ● Platinum Futures (NYMEX) , 🕐TF: 1D Fif.2 The wave Ⓐ in the composition of III of (V) must also take the form of a diagonal . At least, the double zigzag that formed from the top of wave II can be interpreted in a general context as the first wave in its composition. _______________________________________ ● Platinum Futures (NYMEX) , 🕐TF: 8h Fif.3 According to the structure, the second wave of intermediate degree can be identified as a double zigzag W-X-Y with a combination in X . Moreover, wave (2) reached a level that created several Fibonacci ratios: wave Y = 61.8% W , while (2) = 61.8% (1) . Quite powerful the argument in favor of the fact that the downward correction is over. The breakdown of the 0-X line will serve as an additional signal in favor of this assumption. _______________________________________ ●● Alternative count ● Platinum Futures (NYMEX) , 🕐TF: 8h Fif.4 The alternative markup tells us that the correction within wave (2) will continue. A series of overlapping zigzags in a downtrend can be identified as the leading diagonal in wave A . If this interpretation turns out to be correct, then after correction in wave B , the minimum of 797.5 formed by wave A will be rearranged within the impulse C . 📚 Elliott Wave Guide & Ellott Wave Archive ⬇️⬇️
NYMEX:PL1!Long
by TradeWaves-EWA
GOLD Phase 3 Failure - Time for LIFTOFFIf you understand price patterns, one of the most important is what I call the Excess Phase Peak pattern. You see this pattern in up trends and at the peak/start of breakdowns in price. One thing that is very critical to understand about this pattern is the failure of Phase-3 usually prompts another wave higher. At this point, Gold has stalled out near dual support and may start a very aggressive upward price trend as we near the APEX of the Pennant/Flag formation. My research suggests an upward move (above $1870) is very likely to confirm the upper flag channel. Then price will likely stall before attempting a bigger breakout trend. What this means is.. Just like in 2003-05, gold began a "melt up" phase after the DOT COM bubble and the early US economic recovery. That melt-up phase culminated in a breakdown event (GFC 2008-09). Afterward, Gold skyrocketed higher (2011) My interpretation is that Gold is acting just like the 2004~2007 MELT UP rally phase and will likely increase another 85% from current levels - yup $3800+ Gold is on the way. Then, we enter the BIG RALLY PHASE after 2025 or so. Follow my research.
COMEX:GC1!Long
by BradMatheny
Round 2 for Bitcoin? A Rally to $25k, then possibly $35k?I'm starting to think capital will aggressively move into speculative safe-haven assets (gold/silver/platinum/bitcoin) over the next 4+ months as the global markets address Fed, stock market, credit/debt risks. If this is the case, then the $18,975 level becomes a critical line of support. Not that the Fed has fired off its round (rate increase), will capital move away from certain sectors and start rallying into safe-haven assets? Time will tell...
BITSTAMP:BTCUSDLong
by BradMatheny
3
Copper HG - Is It Finally Time?I have witnessed much consternation on Twitter over the last months and weeks about how Copper, a critical industrial element, continues to decline in price. All the while, like most other metals, the exchange vaults are being raided of thousands of tons of physical spot, which futures markets need to back short positions. One would think this would result in a price increase, and yet, metals have remained exceedingly bearish. Whether Copper can constitute a commodity in a price action cycle that can be considered bullish, rather than bearish, boils down to whether or not you believe that the $5 all time high set during the 2021-2022 bull run is either the ultimate top or the medium and short term top. Looking at the monthly, the situation is more clear: This pattern stands in sharp contrast to say, Soybeans, which has a very similar pattern of price action, but is less bearish over the last 3 months and also failed to set a new all time high during the early 2022 supercycle test run. Soybeans ZS - Lagging the Pack, but Ready to Go And is somewhat more like Wheat, which did take out the previous long term high, albeit only on a short term sweep. Wheat Futures - ZW - Like Snakes in a Can The contrast is that copper ran the old high three times already. So you really have to consider that the ultimate top may be in. More information on Copper HG can be discerned from the weekly, which shows notable gaps above $4, a healthy V-Bottom following the July dumps, and a close, albeit not-too-close, range bottom to the key Sept' 20 pivot: Breaking it down into the daily, we can see that July month end and August open plinked out a dump high, followed by August being characterized by a slow grind upwards before finally selling off at the end of the month: September, thus far, has opened very bearish, taking out the August pivot (twice, now), yet retaining the overall market structure, and showing an indication that it wants to trade higher. September is not likely to finish in a straight line down. What I like about this call is that while I have mixed feelings that copper will ever see $5 again, despite all the fundamentals saying it really ought to trade for a lot more, the reality is that I believe if it were to turn around and dump to new lows in the low $3s or mid-high $2s, it certainly does this, more likely than not, after raiding the $4 level first, based on how price action has developed. Currently, we're still young in the month and copper has so far traded bearishly, although it's showing a lot of promise in its price action that higher prices, rather than lower prices, are sought for now. The situation in this world is very strange at present. Energy shortages and food shortages are looming, hard, especially if you are in Europe. Recession, aka "Depression" is looming everywhere, and yet the U.S. equities market is still trading pretty high and for a lot of us life is just normal, albeit not as pleasant as before. The dollar index is mooning and many critical currencies from other countries, including ones as strong and crucial as Japan, are being slaughtered, and yet, no matter how siren-sounding Twitter is, price action does not reflect a degree of panic really anywhere. Even WTI Crude Oil, which I called would trade towards the $81 mark at the beginning of August, is trading in such a fashion that despite losing 30% of its value, there is still no fear, no shock and awe. WTI Crude Oil - Running and Gunning And even so far as Natural Gas NG has already lost more than 10%, somehow despite all the fundamentals saying otherwise, nobody is batting an eyelid. Natural Gas / NG - What, Truly, Is a Bull? Right now, everything, everywhere, is just business as usual, and another dip to buy. But for how much longer? A 72 VIX print is looming in the cards, and the lack of fear will truly have such a move catch many off guard. VIX - 9x8 = 72 The hardest thing in trading is not determining the direction or the targets. Instead, the hardest thing is gauging and predicting _when_ the move will happen and how it will unfold, since time is weaponized, and not very many things go up or down in a straight line all that often. Frankly, reason stands that the reality is that we will see Copper trade for prices like $10 in the relatively close future, and if so, then this price action we're sitting at is truly the place where the abyss will start to rage from. But to go long for that day... when does it really unfold? More likely than not, if you want to aim for numbers over $5, you're looking at a date in 2023, and it's very hard to trade options and futures that far out. And never forget, the world's greatest "black swan" looming is the coming collapse of the Chinese Communist Party . When that day really unfolds, most of the world's population will be bamboozled and caught off guard, which is why I call it a "black swan." But in reality, it is a development that is so, so easy to see. If you can't see it, maybe renounce your faith in communism, socialism, Marxist-Leninist stuff, and have better thoughts. Position yourself with the mentality that saw the world defeat Hitler in World War 2. The CCP has killed more than 100 million of its own people during its sanguine 100-year reign, including the 23-year-long organ harvesting persecution against Falun Gong meditation. How much longer can a group of rogues squatting in Shanghai last, soaked in sins like that? Rationality is simply too critical, and the level of one's rationality is connected directly to the level of their morality.
COMEX:HG1!
by LordWrymouth
3
Silver SI1 - $35 Is as Far Away as SaturnOne of the most dangerous things about what is going on in the world today, and thereby the markets, is that the middle and lower classes of society are being directly targeted. There are different forms that the Marxist principle of "Redistribution of Wealth" takes. Decades ago, it took the form of the "scum of society" being mobilized by the Communist Party to invade and occupy places such as farmland. Then, the evil regime would let the anarchists hold the land for a few years, before ultimately sending in the military to slaughter them and take it for themselves. This is what "communism" and its precursor "socialism" are really all about, and you'd be wise to reject the entire thing if you want nary a hair of a future. In recent history, we saw a manifestation of this scheme when the Antifa and Black Lives Matter anarchist groups destroyed property unchecked during the "Summer of Love" riots. That property, which previously belonged to small business owners, often had insurance claims denied and was scooped up on the cheap by large corporations. In present history, the establishment is simply using a combination of the marketplace and "inflation" to achieve the same ends. The problem for silver/gold/platinum bulls is that much of the reason you are bullish is predicated on the narrative disseminated to you that "the dollar is going to go bust because the FEDERAL RESERVE keeps PRINTING MONEY OUT OF THIN AIR and what happens when we can't SERVICE OUR NATIONAL DEBT ANYMORE?!" This is all true, but you should really give it some thought: in the age of computers, social credit, digital identity, and central bank digital currencies, did you really think that the answer to this problem lied in trading metal for rice and flour like we did in traditional times? You should always remember that the markets can, and will, remain irrational far longer than you can remain solvent. Some people turned all of their cash into silver and gold, and a bunch of canned fish and beans, waiting for the Mad Max days. Well, what lies ahead is a painful rout on consumer commodities, personal debt, and personal incomes that will leave people desperate and in need of cash liquidity to survive. And in order to get that cash liquidity, they'll have to sell the silver bars they paid $25-30 for over the course of the last two years back to the fence at prices like $7 or $8. To be clear: if high prices of the commodity will hurt the middle class, i.e. natural gas, oil, corn, wheat, prices will go UP. If low prices of the commodity will hurt the middle class, i.e. silver, gold, bonds, prices will go DOWN. It's going to look something like this (disclaimer: I'm no artist.) And although you might think to yourself something like "single digit silver again? What a buying opportunity," or "Lmao it'll never drop that far" you should bear in mind this is only true if it bounces in two days back to new highs like it did during "Coronavirus Disease 2019" hysterics, and it'll "drop that far" exactly because retail is thinking "it'll never drop that far" and will fancy themselves brilliant to HELOC and rent a dump truck at $16 and $12, only to get crushed. If prices are depressed over the long term you won't feel it's very fun to spend money on a bunch of metal that tarnishes brown if you leave it merely sitting on your desk. I have some. I really like it. But it tarnishes brown while sitting on my desk. Even a dollar store fork doesn't do that. After retail and the middle class have totally capitulated their spot metals, then, and only then, will we see $35, then $50, then three digit silver. Of course, this assumes that this society can last that long. And although it can't, the sociopaths on Wall Street will continue with their plans even as the stars in the sky explode before our very eyes. In the meantime, you should be clear that this is no dip to buy. Silver has no price action to make at $21 until a major reversal, which is not on the horizon, and it is not going to double bottom in any meaningful way at $18. Ironically you can still blindly short this and if your leverage isn't horrific and your timing isn't worse, you'll make some good money.
COMEX:SI1!
by LordWrymouth