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Preciousmetals

RIO TINTO (Waiting for Confirmation)Rio Tinto – Mining Market Cap: €1.35 bln Price: $61.74 6 Month Dividend: $2.24 (c.3.2%) – March 2023 Quote Dividends recently cut significantly from $4.79 in March 22 (c.5.7%) to $2.24 April 2023 (c.3.2%). Chart - Whilst the long term trend is up with higher lows on the large pennant since 1990, we have not made a higher high since May 2008 and this is a little concerning long term. - On Balance Volume continues increasing which is position and offers some reassurance. We do have our first lower high here on the short term and this could signify a change in price direction. - In terms of a trade, I’m inconclusive for now. I would like the RSI to come back down to the bottom of the purple RSI pennant at minimum (Short Term Buy potential) or become totally oversold on the RSI for a confident buy in. - Any tests of the bottom of the large pennant would be ideal but this may never happen again, time will tell so we focus on the RSI for now. - At present price is pincered between the 200 week SMA and key support. This is likely an inflection point. A good time to wait and see. - An upward sloping 200 week is positive but it is also acts as resistance and until we are above it again, it will remain resistance. Getting a hold above it could offer a buying opportunity. - I will update the chart when we have some confirmation of direction
NYSE:RIO
by PukaCharts
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
Gold is getting comfortable above $2 000Recently, gold started to show serious signs of awakening. Just two weeks ago, it rose above $2 000, a level unseen since early March 2022. Currently, it trades near $2 027 per ounce, about 2.3% below its all-time high value. Overall, we would say that gold is performing very well against a backdrop of high inflation, monetary tightening, and worsening economic conditions in the U.S. and around the globe. However, that is no surprise to us as we previously outlined how record purchases among central banks last year paved a bullish road ahead for this precious metal. As a result, we continue to be highly bullish on gold in the long term and expect it to overtake its previous top in the coming months (if not weeks). Illustration 1.01 Illustration 1.01 shows the daily chart of XAUUSD and two simple moving averages. At the moment, gold can be seen deviating too far from its 20-day and 50-day SMAs, which often precedes a retracement toward these levels. That raises our caution as we might see a pullback in the price of gold (before it continues higher). Technical analysis Daily = Bullish Weekly = Bullish Please feel free to express your ideas and thoughts in the comment section. DISCLAIMER: This analysis is not intended to encourage any buying or selling of any particular securities. Furthermore, it should not be a basis for taking any trade action by an individual investor. Therefore, your own due diligence is highly advised before entering a trade.
OANDA:XAUUSDLong
by Tradersweekly
30
Gold still setting itself for upside to $2,351 with SMC ExplainCup and Handle formed on Gold recently. We had a break above the brim level. Now we are having some kind of retracement, for Smart Money to pick up orders before heading on up. 7>21>200 Price>200 RSI>50 Target HKEX:2 ,351 SMC: Sell Side Liquidity order block is just below the handle of the C&H. This is also where the powerful 200MA is. When the price came down, Smart Money swept the liquidity of selling (bought into them) and hence the price shot up. I am still very much bullish with Gold - Until further notice.
COMEX:GC1!Long
by Timonrosso
Will Palladium break the down channel?Palladium has been consolidating over a strong support line for a couple weeks. Now it is trying to break the down channel. If it breaks we may see a quick 10% move which Palladium loves to do. Next strong resistance area is around 1600. If we manage to clear that region as well, Palladium may return those old strong days again. The main challenges in front of Palladium are the recession fear and the pressure on the price of the commodities which Russia exports. But if Palladium wears the precious metal hat, then it can benefit from the current Bank crisis where Yellen aunt said she will not secure all the deposits. 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.
EASYMARKETS:XPDUSDLong
by WhaleGambit
Gold - $2,000 Is ImminentGood news for goldbugs: GC Gold futures is projected to take out $2,000. Bad news for goldbugs: I still believe that both price action and fundamentals are short/medium-term bearish on gold and that this swing will amount to an exit pump before lower prices forecast in the below post are achieved. Gold GC1 - Discard Greed, Enjoy the Tranquility of Rationality I also believe that Silver is about to rip over $25 for roughly the same reason Silver SI - A Simple Trendline and Levels Scalp And oil to $88 WTI Crude - Step 1) $88 --> Step 2) $5 Some key fundamentals on gold is that the Chinese Communist Party has been accumulating. I've heard that central banks tend to accumulate gold when their economy is in severe trouble and they want to make a bad situation look good. This is also a classic play in the CCP toolkit, trying to appear as if everything is great and the Party is very smart and stable even as tens of millions of citizens and technicians have died from the pandemic. Another reason for amassing gold is to convert foreign reserves/national currency into something they can trade for oil on the dark market. The CCP is not in a good situation. If you look at the stats the Party is reporting, they say that Wuhan Pneumonia (COVID) has totally disappeared from the country since Jan. 10. Not a single case, not a single death in two months, if you believe what the least credible regime on the planet has to say, at least, it's really a miracle. But you should never believe anything the CCP says. The Party is addicted to lying. There's data that says the Shanghai vault saw 140 tonnes leave in January, the largest withdrawal since 2018. Some analysis says the CCP has over 4,300 tonnes of gold in reality, twice as much as they report, making them the second largest holder behind the United States. So this tells us that the US is the market maker and the CCP, a crumbling regime that is the government of the one country everyone wants to seize control of, has decided to take a huge position, and at relatively high prices. There's good reason to believe, then, that the US has +alpha to be gained from dumping gold. But first, the MM and its custom algorithms need to take out the shortsellers who have stops above the $1,975 pivot and the buyers who will go long over the $2,000 psychological level while dreaming of a new all time high. The CCP is going to fall soon. But the skeletons in its closet from the 23.5 year long persecution and genocide against Falun Gong linger like a guillotine over not only its head, but over the heads of all the governments and corporations that have supported the Party and helped it to survive all these years. This means that the wish for China's opponents is to ensure a controlled demolition of the Party so that the truth of what's been going on all these years can be buried. The problem with getting ahead of ourselves based on last week's price action in terms of a long is that it's the beginning of the month and gold already went up 3%. So, in my opinion, I'm looking for a pullback into the $1,820 range to go long and with a target slightly over $2,000. Time horizon is by early April. Monthly candles show that February was an outside bar: Daily <--> 4H <--> 1H candles show that February took out its low of the month right at the end of the month as well. So ultimately, I expect the February low to hold, so long as I'm reading it right and price action is actually bullish, and so long as the fundamentals overall are actually bearish. And there's no reason to be immediately bearish. Although price was rather abruptly rejected at $1,975, on the way up, there were no pivots or imbalances created. The pivot was just drawn at $1,810~. We can tell this because last week's candle was also an outside bar. What I'm thinking is going to happen is that $2,000 will be achieved to clear out shorts and to trap breakout longs and hysterical top buyers. After that, the US market maker will dump metals hard to put greater economic pressure on Xi Jinping's PBOC and CCP as the world attempts to make the Party fall so that they can invade China and establish globalism, which will lead to real worldwide communism. Think of dumping metals as something of a soft sanction against China and Russia. The idea of globalism is to have the CCP's social credit scheme become standardized everywhere on the planet, and then humanity will live in a two class system: one where there is a very small group of Gates/Clinton-type elites who lord from their "holy" ivory towers over a very large garbage dump of slaves scurrying around for scraps. This is the plan. But over the very long course of history, a lot of governments and organizations have attempted to take over the world. World government has never worked out, and has always ended in disaster. Disaster, followed by a change of scenery. This is why we find buildings from old cultures at the bottom of the ocean and buried in the Earth. Be careful, and good luck.
COMEX:GC1!Long
by LordWrymouth
2
A 3 year-sized F. Bull FlagSilver gives the main message on the chart. While financial powers shifting from west to east, all the precious metals will be very important to state the power of any currency like in the old days. No more money printing like no more tomorrows. Otherwise the money will turn to a meaningless paper due to inflation. Gold is already shining but silver, oh my silver. When we break this f. bull flag, we will see 26 and 32 quickly. Silver will move way faster than gold. Look at the XAUXAG ratio. Historical median point is around 32 where it is above 80 nowadays. Stock your precious metals at home, buy more rings to your significant one or get some silver spoon and forks. The real money will take the power again! 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:XAGEURLong
by WhaleGambit