PL1! (SELL) Bearish trend + bearish moving average + breakout of the resistance which rejected several times.
PL1! trade ideas
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 .
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 .
Stocks Chew Through Resistance and moreS&P, NQ, and equity indices chewed through resistance today. U.S. Dollar weakness is underpinning strength across risk assets. Crude is at an inflection point. Let's dive in.
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.
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.
Platinum Time And MotionGeometry squared with time
C.f. Gann/Andrews
Targets are 720 and 600
GRI 2022
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 .
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.
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.
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 .
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 .
Platinum Commodity USA Sun Storm Investment Trading Desk & NexGen Wealth Management Service Present's: SSITD & NexGen Portfolio of the Week Series
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By Sun Storm Investment Research & NexGen Wealth Management Service
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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.
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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 .
A bear flag in Platinum!Platinum looks interesting right now. On a 15-min chart, we see price in a bear flag pattern. On top of that, Relative Strength Index (RSI) shows waning momentum, adding evidence to a potential price breakdown.
Couple this with a longer-term daily chart, prices are trading in close proximity to a long-term support level of 914 & 883. With the 914 support level broken once last week.
We expect some downward pressure on prices in the short term, favoring a short position.
Entry at 936.7, stops at 945. Target at 914.
Disclaimer:
The contents in this Idea are intended for information purpose only and do not constitute investment recommendation or advice. Nor are they used to promote any specific products or services. They serve as an integral part of a case study to demonstrate fundamental concepts in risk management under given market scenarios.
PLATINUM FUTURES (PL1!), H1 Potential for Bullish RiseType : Bullish Rise
Resistance : 974.7
Pivot: 941.5
Support : 919.7
Preferred Case: On the H4, with price moving above the ichimoku cloud , we have a bullish bias that price will rise from our pivot at 941.5 in line with the overlap support and 23.6% fibonacci retracement to 1st resistance at 974.7 in line with the 78.6% fibonacci projection and swing high resistance.
Alternative scenario: Alternatively, price may break pivot structure and drop to the 1st support at 919.7 where the swing low support, 78.6% fibonacci retracement and 100% fibonacci projection are.
Fundamentals: As investors are seeking to hedge against inflation, we have a weak bullish view on platinum.
Platinum Futures (PL1!), H1 Potential for bearish dropType : Bearish Momentum
Resistance : 974.4
Pivot: 952.7
Support : 924.4
Preferred Case: On the H1, price is moving below the ichimoku cloud which supports our bearish bias that price will drop from our pivot at 952.7 in line with the overlap resistance to the 1st support at 924.4 in line with the swing low support and 127.2% fibonacci extension.
Alternative scenario: Alternatively, price may break through pivot structure and rise to the 1st resistance level at 974.4 in line with the swing high resistance and 78.6% fibonacci projection .
Fundamentals: The inflation hedge benefitted from the highest inflation seen in the US in 40 years. The rate of increase in the fed funds rate would be key to further gains in the precious metal. Hence, we have a mixed to weak bullish view on platinum.
Platinum Futures (PL1!), H1 Potential for Bullish RiseType : Bullish Rise
Resistance : 1026.3
Pivot: 1000.5
Support : 988.0
Preferred Case: Price is moving within the ascending trend channel and is moving above the ichimoku cloud which supports our bullish bias that price will rise from the pivot at 1000.5 where the pullback support is to the 1st resistance at 1026.3 in line with the swing high resistance.
Alternative scenario: Alternatively, price may break pivot structure and drop to the 1st support at 988.0 in line with the swing low support.
Fundamentals: Due to increasing inflation rates in the US,UK and other developed economies, we have a bullish view on the precious metal.
Potential Bullish Momentum On the H4, the MACD indicator shows that price is in a bullish pressure area, while stochastics shows an upward trend, which supports our bullish bias that price will rise from the pivot at 945.2 at the overlap support and in line with the 38.2% fibonacci retracement to the resistance at 969.1 in line with the 78.6% fibonacci projection and 61.8% fibonacci retracement. Alternatively, price may break the support structure and drop to the support level at 913.5 at the swing low.
Platinum FuturesPLATINUM | WEEKLY CHART | Call to fully bank at $1178. Last close = $956. Possible bear flag (negative) technical formation while also testing the lower boundary of the long term channel. You could say it’s a triple bottom however a breach of support may trigger the aforementioned bear flag structure.
platinum is angry$1,025 is the big support/resist level for platinum, we touched again today.
palladium waking-up at the same time as #platinum is the perfect PGE/PGM storm. Inverse head and shoulders on the 4h. see my palladium futs chart.
Platinum USA Futures 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
