Favourable risk/reward. Bearish as long as below $56135.
If this level doesn't hold, then the $18 area would be the next support.
Expect at least a retest of the Nov. 10, 2020 price value.
Despite the impressive Friday afternoon rally, selling pressure in the short term is still possible.
Platinum will be under the spotlight in the coming months. Starting to outperform after long years of underperformance.
Global X Uranium ETF is starting to outperform commodities.. finally! This one not to be ignored in my opinion.
Short term: To test the previous high ..! Long term: Very bullish as long as it stays above $1440
The signal I'm getting is to the downside. however, it will be more convincing after reaching a $64 target. WE also have a higher high which supports a long position at this level. (Not an investment advise)
The picture shows my trading plan for crude. (Not an advise to buy or sell)
I'll be Looking to buy at a level close to the green area. Crude may go higher and approach the $ 60 level before it continues falling.
May choose to take profit early since Gbp/Cad is outperforming on weekly chart analysis.