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Platinum / U.S. DollarPlatinum / U.S. DollarPlatinum / U.S. Dollar

Platinum / U.S. Dollar

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XPTUSD trade ideas

XPTUSD Technical outlook Bullish scenario: XPTUSD Technical outlook Bullish scenario: The Platinum broke very important resistance zone between 960 and 1000 usd. Now the price is holding above the zone narrowing its daily range. As all trends are moving between two phases – Impulse and Correction the last three-four days sideway movement could be taken as a correction of the impulse started on a 10.11.2020. With the above said if the price breaks its four days range above 1030 level the bulls could take the price to 1073 and if this level fold then the path to 1170 will be open. Bearish scenario: If the price break below 1063 support level, then the first target for the bears will be 905 and if it doesn’t hold then we may see 840 support level hit. Fundamental: One of the most important things now is the huge spread between gold and platinum which show us that the platinum is quite undervalued on historically bases. The other thing to consider is the except that the platinum is also e precious metal it has a usage in the industry. This fact alone with the huge spread between prices of the two metals gives slightly bigger advantage of the bullish technical scenario
OANDA:XPTUSD
by legacyFXofficial
3
XPTUSD Technical outlookXPTUSD Technical outlook Bullish scenario: The Platinum broke very important resistance zone between 960 and 1000 usd. Now the price is holding above the zone narrowing its daily range. As all trends are moving between two phases – Impulse and Correction the last three-four days sideway movement could be taken as a correction of the impulse started on a 10.11.2020. With the above said if the price breaks its four days range above 1030 level the bulls could take the price to 1073 and if this level fold then the path to 1170 will be open. Bearish scenario: If the price break below 1063 support level, then the first target for the bears will be 905 and if it doesn’t hold then we may see 840 support level hit. Fundamental: One of the most important things now is the huge spread between gold and platinum which show us that the platinum is quite undervalued on historically bases. The other thing to consider is the except that the platinum is also e precious metal it has a usage in the industry. This fact alone with the huge spread between prices of the two metals gives slightly bigger advantage of the bullish technical scenario
OANDA:XPTUSD
by greenforexsig1
LONG ALL THE WAY!Hello friend, Platinum has broken out of the H&S pattern; this reminds of the days when gold broke the H&S pattern before the wild run we saw in previous months. Based on the pattern, I would buy platinum in the support zone indicated in the cart; more of a positional trade rather than a day trade. The target for the broken H&S comes around $1,500 which means 40%+ gain in the coming weeks/ months. Keep in mind that Platinum did not have similar run like gold or silver, so it is likely Platinum will outperform other metals in the next rally. Please share your thoughts and if you like this analysis, please like and follow. Good luck!
PLong
by Zaitermo
3
Platinum- 1200 on medium term?November was quite a month for Platinum with the price rising 30%, but most importantly with a significant break above 1000 psychological and technical resistance, a resistance that held since 1017. At this point, the price is in a normal and necessary correction, and confirmation of 1k as new support would bring bulls into the market and the price can rise to the next important zone at 1200. Buying at 1010-1020 zone could be a great trade for the medium-term and only a drop under 950 would change this bullish outlook
OANDA:XPTUSDLong
by Mihai_Iacob
3