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Platinum USD per ounce Futures

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XPTUSD1! trade ideas

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.
NYMEX:PL1!
by Tickmill
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.
NYMEX:PL1!Short
by Genesiv
Platinum Down On Dollar Strength The Platinum market rebounded nicely off the inverse head and shoulders pattern from the lows on July 14th, climbing through resistance and getting stuck right at the 200-day moving average. The market was near overbought levels, and the recent strength in the dollar has pushed Platinum back to old resistance, which will now act as a support pocket. If there is continued strength in the dollar and little bullish economic data, the market could break below this pocket and towards the mid-July lows. If the dollar pulls back and the economy seems to be gaining strength, it could be a catalyst to the upside inviting more buyers.
NYMEX:PL1!
by Ryan_Gorman
1
PLATINUM FUTURES (PL1!), H4 Potential for Bullish RiseType : Bullish Rise Resistance : 891.7 Pivot: 870.5 Support : 850.3 Preferred Case: On the H4, with prices moving within an ascending channel and above the ichimoku indicator, we have a bullish bias that price will rise to the pivot at 870.5 where the pullback resistance is. Once there is upside confirmation that price has broken the pivot , we would expect bullish momentum to carry prices to 1st resistance at 891.7 where the swing high resistance, 100% fibonacci projection and 161.8% fibonacci extension . Alternative scenario: Alternatively, price could drop to the 1st support at 850.3 where the pullback support, 61.8% fibonacci retracement and 78.6% fibonacci projection . Fundamentals: Due to the increased strength of DXY , we have a bearish view on precious metals like platinum . We'll need to exercise caution for this setup because our fundamentals and technicals are not completely aligned.
NYMEX:PL1!
by Tickmill
PLATINUM FUTURES (PL1!), H4 Potential for Bullish RiseType : Bullish Rise Resistance : 891.7 Pivot: 870.5 Support : 850.3 Preferred Case: On the H4, with prices moving within an ascending channel and above the ichimoku indicator, we have a bullish bias that price will rise to the pivot at 870.5 where the pullback resistance is. Once there is upside confirmation that price has broken the pivot , we would expect bullish momentum to carry prices to 1st resistance at 891.7 where the swing high resistance, 100% fibonacci projection and 161.8% fibonacci extension. Alternative scenario: Alternatively, price could drop to the 1st support at 850.3 where the pullback support, 61.8% fibonacci retracement and 78.6% fibonacci projection. Fundamentals: Due to the increased strength of DXY, we have a bearish view on precious metals like platinum. We'll need to exercise caution for this setup because our fundamentals and technicals are not completely aligned.
NYMEX:PL1!Long
by Genesiv
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.
NYMEX:PL1!Long
by bill_blue_line
PLATINUM FUTURES (PL1!), H4 Potential for Bullish RiseType : Bullish Rise Resistance : 871.0 Pivot: 832.1 Support : 806.9 Preferred Case: On the H4, with RSI moving along an ascending trendline and price breaking out of a descending channel , we have a bullish bias that price will rise from the pivot at 832.1 where the pullback support and 61.8% fibonacci retracement are to the 1st resistance at 871.0 in line with swing high resistance. Alternative scenario: Alternatively, price may break pivot structure and drop to the 1st support level at 806.9 in line with the swing low support and 78.6% fibonacci projection . Fundamentals: As investors are seeking to hedge against inflation , we have a weak bullish view on platinum .
NYMEX:PL1!
by Tickmill
PLATINUM FUTURES (PL1!), H4 Potential for Bullish RiseType : Bullish Rise Resistance : 871.0 Pivot: 832.1 Support : 806.9 Preferred Case: On the H4, with RSI moving along an ascending trendline and price breaking out of a descending channel, we have a bullish bias that price will rise from the pivot at 832.1 where the pullback support and 61.8% fibonacci retracement are to the 1st resistance at 871.0 in line with swing high resistance. Alternative scenario: Alternatively, price may break pivot structure and drop to the 1st support level at 806.9 in line with the swing low support and 78.6% fibonacci projection. Fundamentals: As investors are seeking to hedge against inflation , we have a weak bullish view on platinum .
NYMEX:PL1!Long
by Genesiv
PLATINUM FUTURES (PL1!), H4 Potential for Bearish DropType : Bearish Momentum Resistance : 892.1 Pivot: 855.8 Support : 806.6 Preferred Case: On the H4, with price moving along a descending trendline and expected to reverse off the ichimoku cloud and the stochastic resistance, we have a bearish bias that price will drop from the pivot at 855.8 where the overlap resistance is to 1st support at 806.6 in line with swing low support and 61.8% fibonacci projection . Alternative scenario: Alternatively, price may break pivot structure and rise to the 1st resistance at 892.1 where the swing high resistance, 61.8% fibonacci retracement and 100% fibonacci projection are. Fundamentals: As investors are seeking to hedge against inflation , we have a weak bullish view on platinum . We'll need to exercise caution for this setup because our fundamentals and technicals are not completely aligned.
NYMEX:PL1!
by Tickmill
PLATINUM FUTURES (PL1!), H4 Potential for Bearish DropType : Bearish Momentum Resistance : 892.1 Pivot: 855.8 Support : 806.6 Preferred Case: On the H4, with price moving along a descending trendline and expected to reverse off the ichimoku cloud and the stochastic resistance, we have a bearish bias that price will drop from the pivot at 855.8 where the overlap resistance is to 1st support at 806.6 in line with swing low support and 61.8% fibonacci projection . Alternative scenario: Alternatively, price may break pivot structure and rise to the 1st resistance at 892.1 where the swing high resistance, 61.8% fibonacci retracement and 100% fibonacci projection are. Fundamentals: As investors are seeking to hedge against inflation , we have a weak bullish view on platinum. We'll need to exercise caution for this setup because our fundamentals and technicals are not completely aligned.
NYMEX:PL1!Short
by Genesiv
PLATINUM FUTURES (PL1!), H1 Potential for Bullish RiseType : Bullish Rise Resistance : 891.0 Pivot: 850.8 Support : 832.0 Preferred Case: On the H1, with prices moving above the ichimoku cloud and has broken the descending trendline, we have a bullish bias that price will rise from the pivot at 850.8 in line with the pullback support and 50% fibonacci retracement to the 1st resistance at 891.0 where the pullback resistance, 127.2% fibonacci extension and 61.8% fibonacci retracement are. Alternative scenario: Alternatively, price may break pivot structure and drop to the 1st support level at 832.0 in line with the swing low support and 78.6% fibonacci projection. Fundamentals: As investors are seeking to hedge against inflation , we have a weak bullish view on platinum .
NYMEX:PL1!Long
by Genesiv
Platinum in a downward channel.platinum is in a downward channel heading to 740. With lower lows and lower highs, it is a steady drop in a channel. Given the current Geo-political situation, the economic demand falling, issues with supply chains, the launch of solid state batteries for cars, platinum and palladium will see a falling demand, and therefore, a falling support price. This is an indication of the businesses that will need to focus more on sustainability, and therefore look for newer sustainable revenue growth. Currently platinum miners do not have the luxury of increasing revenues and improving prices. I am short on platinnum. Any additional comments and questions welcome to start a meaningful discussion.
NYMEX:PL1!Short
by The_Rational_Investor
PLATINUM FUTURES (PL1!), H1 Potential for Bullish RiseType : Bullish Momentum Resistance : 954.5 Pivot: 921.1 Support : 890.0 Preferred Case: On the H1, price is moving above the ichimoku cloud and is moving along ascending trendline which supports our bullish bias that price will rise from the pivot at 921.1 where the overlap support and 50% fibonacci retracement are to the intermediate resistance at 944.3 where the -61.8% fibonacci expansion, 78.6% fibonacci retracement and pullback resistance. Once we have upside confirmation that price has broken past intermediate resistance, we would expect bullish momentum to carry price to 1st resistance at 954.5 in line with swing high resistance. Alternative scenario: Alternatively, price could break pivot structure and drop to 1st support at 890.0 in line with the swing low support and -61.8% fibonacci expansion . Fundamentals: As the DXY strengthen, we have a weak bullish view towards platinum.
NYMEX:PL1!Long
by Genesiv
PLATINUM FUTURES (PL1!), H1 Potential for Bearish DropResistance : 924.7 Pivot: 901.4 Support : 874.9 Preferred Case: On the H1, price is moving below the ichimoku cloud which gives us a bearish bias that prices will drop to the pivot at 901.4 where the 78.6% fibonacci projection and swing low support are. Once there is downside confirmation that price has dropped to pivot , we would expect bearish momentum to carry prices to 1st support at 874.9 where the 61.8% fibonacci projection , 78.6% fibonacci projection and 161.8% fibonacci extension are. Alternative scenario: Alternatively, price may rise to the 1st resistance level at 924.7 in line with the pullback resistance and 38.2% fibonacci retracement . Fundamentals: As investors are seeking to hedge against inflation , we have a weak bullish view on platinum .
NYMEX:PL1!
by Tickmill
PLATINUM FUTURES (PL1!), H1 Potential for Bearish DropType : Bearish Drop Resistance : 924.7 Pivot: 901.4 Support : 874.9 Preferred Case: On the H1, price is moving below the ichimoku cloud which gives us a bearish bias that prices will drop to the pivot at 901.4 where the 78.6% fibonacci projection and swing low support are. Once there is downside confirmation that price has dropped to pivot , we would expect bearish momentum to carry prices to 1st support at 874.9 where the 61.8% fibonacci projection, 78.6% fibonacci projection and 161.8% fibonacci extension are. Alternative scenario: Alternatively, price may rise to the 1st resistance level at 924.7 in line with the pullback resistance and 38.2% fibonacci retracement. Fundamentals: As investors are seeking to hedge against inflation , we have a weak bullish view on platinum .
NYMEX:PL1!Short
by Genesiv
Platinum Commodity USA Sun Storm Investment Trading Desk & NexGen Wealth Management Service Present's: SSITD & NexGen Portfolio of the Week Series Focus: Worldwide By Sun Storm Investment Research & NexGen Wealth Management Service A Profit & Solutions Strategy & Research Trading | Investment | Stocks | ETF | Mutual Funds | Crypto | Bonds | Options | Dividend | Futures | USA | Canada | UK | Germany | France | Italy | Rest of Europe | Mexico | India Disclaimer: Sun Storm Investment and NexGen are not registered financial advisors, so please do your own research before trading & investing anything. This is information is for only research purposes not for actual trading & investing decision. #debadipb #profitsolutions
NYMEX:PL1!
by Sunstorminvest
PLATINUM FUTURES (PL1!), H1 Potential for Bullish RiseType : Bullish Rise Resistance : 951.1 Pivot: 938.1 Support : 927.5 Preferred Case: On the H4, with price moving above the ichimoku cloud and along the ascending trendline, we have a bullish bias that price will rise from our pivot at 938.1 in line with the pullback support to the 1st resistance at 951.1 in line with the 61.8% fibonacci projection, 61.8% fibonacci retracement and swing high resistance. Alternative scenario: Alternatively, price may break pivot structure and drop to the 1st support at 927.5 where the swing low support, 78.6% fibonacci retracement and 61.8% fibonacci projection are. Fundamentals: As investors are seeking to hedge against inflation , we have a weak bullish view on platinum .
NYMEX:PL1!Long
by Genesiv