Platinum (PL), Monthly chart: 15 years long(!) support zone + Divergence on RSI(14) + Harami candle pattern. BUT we didn't break resistance line yet
Pretty good r/r if you ask me, last time it hit this level it took off, my sweet long-term PPLT Stock hold.
After studying market on the Monthly (1M) view I strongly believe Platinum has bottomed out and headed up with indication of trend reversal to follow in the coming weeks. Last time the market hit this low was in 2008, however, came quite close in 2016. I highly doubt there will be much further downtrend below 760.99 but I do remain prepared for such a possibility....
Platinum is moving to 18-months low Take a look on daily chart there you can see, that 6 days ago price break down key level $878.77 and D1 close under it. It shows that big players have enough power to move it down. I think the price will continue to move down to key buy zone $813.59. On a weekly chart, we see that it is 18 Months low. Under that level, many...
I am initiating a long position in Platinum futures at current prices which are well supported over the last several years. I think a long term bottom may form as the Platinum price is mainly driven by automobile industry and it is doing quite well recenlty. The position is taken with Reward to Risk ratio of 2.50 and can be kept even further!
Price tested MN DZ, into MN DZ nice W1/D1 DZ. W8ting for deep penetration to Zone and long.
Although platinum is considered a safe haven, it also thrives in a productive economy. This gives it a great chance to do well during 2017, as people will turn to precious metals during times of uncertainty (which there will be a lot of in 2017), and with Trump wanting to spend like crazy on industrials (emissions control amongst other uses), this could propel...
$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 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
Watching 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.
XPTUSD HAVE BIG POTANTIAL FOR LONG JUST WE NEED TO FALLOW CHART OR SET UP BUY STOP FOR FUTURE...
Platinum 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...