Seasonal $XPTUSD Platinum LongIt is time to start considering a major platinum trade in either spot or $PPLT equivalent. The measured move target of $1300 is shown and I believe we can get there by March 1 2021.
Preciousmetals
Never Mind Short Squeezes. Silver Appears BullishSilver was in focus last week on talk of a short squeeze. The attempt fell flat, but the white metal’s technicals could be lining up for a rally regardless.
The first chart feature is the huge breakout above $20 in July. This was confirmed by retests on September 24 and November 30. Notice how prices rebounded sharply from both attempts. Interestingly, the bottoms around $22 were near the peak in July 2014, before silver collapsed decisively under $20 (where it would spend most of the next six years).
Next is the descending trendline that began after the 2020 spike. XAGUSD spent more than a month fighting against that resistance before turning it into support in late January.
Third, notice how prices held $26 last week. That was the peak on November 9 (vaccine rally day for stocks) and the weeks begun January 11 and 18. Again, old resistance became new support.
MACD is also rising on the daily chart and just turned higher on the weekly chart (see above).
Finally, the U.S. dollar has been holding its ground for the last two months. However, the greenback’s longer-term trend is still bearish. Continuation of that slide would also potentially help silver.
TradeStation is a pioneer in the trading industry, providing access to stocks, options, futures and cryptocurrencies. See our Overview for more.
Platinum looking strong bullHello!
Platinum looking really bullish. We got here a beatiful higher low pattern and a vertical line which has worked as resistance.
This resistance has been tested 4 times. What I have seen usually 5th or 6th time does it.
Also RSI has already broke it's own the resistance line and used it even as a support. This gives me a strong bullish view.
Platinums demand is also getting bigger. Car makers are starting to use platinum instead of expensive palladium on exhaust systems.
If you are not holding for long term and are trading. Use stop loss.
Otherwise you will get your ass burned!
Take care
Jebu
Technical Analysis and OutlookTechnical Analysis and Outlook
The continuous Silver action keeps the price above Mean Sup $26.250 . Silver's upside at this super bull rally is high; however, the downside low probability pullback should be to the Key Sup $24.750 - If it happens at all. To continue the rest of the market story, see the 'Weekly Market Review & Analysis For February 1, 2021" at the usual site.
GOLD Targeting 2100$+ gold can pullback down to ~1800$ but it seems preparing for another strong bounce over 2100$.
$SI1! Silver Futures. Where is it going to go ? $33 might offer some clues, but as always very difficult to determine where this will eventually end up. Very speculative. Don't play what you cannot afford to lose in this market.
GLD Trend AnalysisWe're continuing in this downward trend but primed to breakout to the upside. Accumulation/Distribution shows large accumulation dring tthis entire retracement
Asia Broad Band, Inc., Massively UndervaluedAs the name does not indicate, OTC:AABB is a base metal and precious metal player.
Technically, the stock is in an initial breakout stage on the weekly / monthly time scales.
Fundamentally, the PER is 0.35 by 2020 year's end and presently 1.35 with strongly improving net profits.
On the medium term the stock is at least a 5-bagger, potentially a 10-bagger.
I went long at $0.017 yesterday (Friday, 22 Jan 2021).
On the short term there is a possibility for the stock price to drop to 0.012 - 0.013 (on top of the white arrow) at which price I will double down if this happens.
SILVER - Next Upleg is Around the CornerAfter a healthy consolidation, breakout signals an imminent price acceleration.
Silver aims at 30$ --> 117$Silver has found strong support at 24$. Tested multiple times.
RSI is well above 50 and MACD is leveling out on the weekly chart. DXY is also showing weakness.
All signs show very bullish momentum and upward pressure. With there being a lot of talk about major federal spending and increase in debt.. Silver will likely continue to grow and become even more volatile.
Silver prices have been artificially suppressed to keep costs low as silver is largely used for manufacturing and many electronic products. Historically the silver/gold ratio has been around 17oz silver per 1oz gold. Silver to gold is currently at around 71 to 1. As the public sale of silver becomes increasingly more accessible, it is becoming harder to control the price via FTE. As a result I expect the price of silver to behave erratically and reach new highs in USD never seen before. 117$ puts silver back at the ratio of about 17/1.
be blessed.
Long if we flip the red lineI think we'll test the month high if we flip the 25.964 point. We'll likely then go on to 27.925.
What do you think?
Today gameplan for GC: Bearish pennant, looking to retest demandHi guys, i sharing my gameplan for today trading session on COMEX:GC1!
As you see in my chart COMEX:GC1! formed bearish pennant which was pierced at friday session. Its pulled back at esterday and today overnight session to retest lower line of pennant and today its ready to retest fridays low.
You can trade it for example by inverse ETF: AMEX:DUST
Happy trading!
Gold - Downtrend continuing Gold has been in a downtrend since August 2020. A down channel breakout attempt at 1900 lost momentum pretty quickly resulting in us trading back into the down channel. The expectation is that we will continue to trade within this channel and a test of the previous low at 1768 is possible.
History of the past is repeating now in the silver market.Look for screenshots in the comments. Silver crashed in the early 70s to a low of $1.2, silver crashed to a low of $12 in march, what we do is apply the price action of the 70s to current market and the similarities are striking. Have a look at the charts in the comments and prove it to yourself. Thats why I think we we will see a rise of silver to $60. Then it will start to consolidate inside of a weekly down cycle and the $40 level should be the extreme low support. Then closer to the top of the super cycle (check the related idea) silver will blast to triple digit prices. This is just an observation and hardly can it be applied to practical speculation, only to purchase nominal metal - without leverage. It is just interesting to see how chart pattern repeat many years apart.
