Platinum bullish patternAnother highly interesting view of platinum. Here you can see all the more clearly that platinum is taking on bullish patterns.
Thoughts ?
Platinum
Platinum Analysis & Trade IdeaPlatinum has reached an important poi. Could be poised to take a fall.
It may take some time, as the USD has been weakened by slightly better inflation news, so we'll see.
The D1 momentum is bullish , currently, so waiting for confirmations for sells is the best course of action.
Look for bearish price action at current levels.
Palladium/U.S Dollar idea (26/08/2022)Palladium
The rise of the metal depends on the support point 1787.50 to achieve the bullish movement, and we expect the bearish correction to continue in the near term to end the second wave of correction before rising again in the third impulse waves
Platinum/U.S Dollar idea (25/08/2022)Platinum
We expected the metal's movement over the time term to rise since prices are above the minor 862.79 support point at the bottom of wave 2. we expected to target a price of 972.00 in the time term. But the main support point is at 830.50, which is the bottom of the wave (2).
PLATINUM | Resistance?Thursday, 25 August 2022
13:57 PM (WIB)
I want to analyze the movement of Platinum, regarding it still in the descending box with the lowest price of $731 and the highest price of $952. Now the price moves at the Resistance Lines of this descending box. Actually, the price movement has broken out of this descending box and reached the MA200, and then fall again inside the descending box again. In this situation, Platinum is now at the top of Resistance that possible to create a retracement move. And the price is possible to fall again in the direction of 0.786F or even more low 1F.
But the performance between a descending box with the MACD and Stochastic is still not connected to the strong signal. Keep watch and notes.
Platinum FUTURES (PL1!), H4 Potential for Bearish DropType : Bearish Drop
Resistance : 883.8
Pivot: 858.9
Support : 833.2
Preferred Case: On the H4, with price going within the descending trendline and moving below the ichimoku indicator, we have a bearish bias that price will drop to the pivot at 858.9 where the overlap support is. Once there is downside confirmation that price has broken pivot structure, we would expect bearish momentum to carry price to 1st support at 833.2 where the swing low is.
Alternative scenario: Alternatively, price could rise to 1st resistance at 883.8 where the overlap resistance, 23.6% fibonacci retracement are
Fundamentals: China recently announced the YoY industrial activity figures for July, falling to 3.8% from 3.9% in June, which is quite disappointing. Specifically related to mining, industrial activity in China dropped from 8.7% in June to 8.1% in July, which further dampened platinum prices.
A buy of your lifetime is coming imo....I think this upcoming dip in precious metals will be the last time you will see those low prices....
Platinum/U.S Dollar idea (17/08/2022)Platinum; We expect a rise in wave (3) over The time term. The Rise depends on the first support point 565.43 The correction may have ended in wave (2) at the second support point 835.50 Therefore, the Rise depends on trading above the support point of 835.50
Jamie Gun2Head Trade - Selling Platinum Trade Idea: Selling Platinum
Reasoning: Bearish outside candle on daily chart, head and shoulders top forming?
Entry Level: 925
Take Profit Level: 887
Stop Loss: 936
Risk/Reward: 3.45:1
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Gold Steadies in the low $1800'sGold is consolidating in the narrow range between 1815 and 1795. Recall that this was a previous value area from a few months prior. We are wavering about 1800, which is a strong psychological level corresponding to the 0.618 Fibonacci level. The Kovach OBV has leveled off, suggesting that we need more momentum either way before making a significant move. We should have strong support at 1780, the 50% Fibonacci retracement level. If we break out, the next target is 1826, then 1836.
Gold Caught Between Fibonacci LevelsGold has made another run for highs after finding support just below the 50% Fibonacci level at 1770 or so. We are currently contending with 1795, the level just below the 0.618 Fibonacci level. We are seeing strong resistance forming at these levels confirmed by multiple red triangles on the KRI. From below, we have strong support at 1770, confirmed by green triangles on the KRI. It is likely that gold will hold the range between 1770 and 1800, unless more momentum comes through. A breakout could take us through the vacuum zone above to 1815. If we break down, watch for support at 1758, the 0.382 Fibonacci level.
Silver is in the buy zone. Reversal imminent.Silver has entered it's buy level of $17-18xx and as the wave pattern comes to the next wave, the price could dip down one last notch.
Silver squeeze, which started in Feb 2021 has drained the COMEX of silver, reducing from 150 million ounces to less than 57 million today. At some point the COMEX will declare force majeure and anyone in silver ETFs is going to be mad.
No price targets as we need true price discovery... but $600 silver is not a meme.
The titanic has hit the iceberg and the life boats are in the water, rowing away while the general public remains on the titanic, drinking and socializing.
The titanic is the US Dollar and the life boats are precious metals but silver in particular.
Gold Ranges at LowsGold is ranging after a slight retracement from just below the highs of the range at 1735. We are finding support from 1715, roughly in the middle of the value area. We have strong support confirmed by two green triangles on the KRI. The Kovach OBV is solidly bearish. A breakdown could take us to the base of the 1700 handle, or even back to lows at 1683. All eyes appear to be on the FOMC, so don't expect much action before that announcement.
Every rally starts with a short coverPlatinum has been trending lower for more than four months, the March peak, and is finally showing signs of a potential bottom. Yesterday's whipsaw helped complete the right shoulder of an inverse head and shoulders pattern. Upon doing that, it also back-tested the trend line from its June peak, holding it as support perfectly. The large range consolidation over the last three days created a flag-like pattern, brining a coiling of strength to help pierce through the 21-day moving average this morning. The cherry on top is that Managed Money, hedge funds, have been net-short Platinum. This tells us that upon strength there will be short-covering. Not only in Platinum but SIlver and Gold too. In fact, Managed Money went net-short Gold as of last Tuesday for only the second instance in history. The first was at the exact 2015 low and the second was in the later innings of the 2018 sell-off. Managed Money going net-short metals is a contra indicator.
Northam break or bounceJSE:NPH is at an area of value; the stock may either find support here or break lower. NYMEX:PL1! is weak, the chance of breaking lower is higher than that of a bounce. No position on platinum names at the moment.
Platinum (XPT/USD) Going Bullish???Will Palladium Close Bullish This Month (JULY) ?
This Trade Consists Of A Classic AMD Trade And Traditional SnD +A Few ICT Concepts
I'm Framing A Possible Reversal, Since I've Seen The WEEKLY & DAILY Timeframe Have Swept Liquidity Below And Palladium Is Currently Trading In My Premium Zone (Oversold), NOT OVERSOLD AS IN OSCILATOR INDICATION
My Expectations For This Setup
Small Pullback Towards The Optimal Trade Entry Zone , Creating A Second From The 2 Hour Timeframe
Price Filling The Imbalance Below Or Testing A Bullish Orderblock, As Our ENTRY TRIGGER
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Nice bouncecheck out this long log chart for $IMPUY Impala Platinum.
Nice bounce this month so far, big support.
Big dividends.
Large Engulfing CandleA very large engulfing candle has formed on JSE:NPH . It has engulfed at least the last 6 candles which makes it a stronger signal. So I think we can expect an upward move from here.
710 possible for a week or two. 850 is the range likely for a few weeks with a pulse to 800 range.
Then the price could fall to a cost of production for a few months...maybe even a pulse below that for a few weeks.
Might even stay there long enough to get some physical at decade lows.
Then again who wants dollars? I guess 2.8% interest for a 10y bond with prospects for 7% inflation looks good to some people.
Maples, eagles or plate? what will there be? trading PPLT as a hedge to lock in a price.
Gold Fractals Align - Could See A HUGE Price Swing HigherCycles & Fractals are aligning for an aggressive move higher in Gold & Silver.
If my research is correct, a similar fractal is setting up right now compared to the one from the GFC (2008-2011). I believe we are at a peak in the Gold/Silver ratio and we could see an aggressive move downward in this ratio over the next 6~18+ months - sending Gold and Silver MUCH HIGHER.
Follow my research and learn to protect and grow your wealth. There are still decent stocks/ETFs to trade - but now is the time to be SUPER CAUTIOUS.
Gold/Silver/Bonds should begin to move higher as FEAR takes over the markets.
PLATINUM 30th JUNE 2022Platinum is in critical area, closer to breakout support, risk of bearish potential.
Big institutions and companies tend to decrease in demand, even though the supply of platinum is increaseing.
I usually use 2 sources to see the sentiment of big players:
1. LME : London Metal Exchange is a futures and forwards exchange with the world's largest market in standardized forward contracts, futures contracts, and options on base metals. The exchange also offers contracts on ferrous metals and precious metals.
www.lme.com
2. CFTC : Commodity Futures Trading Commission is an independent agency of the US government created in 1974, that regulates the U.S. derivatives markets, which includes futures , swaps, and certain kinds of options.
www.cftc.gov
Due to the uncertainty of these, the price of platinum tends to be bearish.
This is my trading plan on XPTUSD , how about you?
Platinum Long position indicated A good buy call for platinum as the metal didn't broke the support area of 900 and if expected to ride up to 940 to 950
