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Platinum

Round 2 for Bitcoin? A Rally to $25k, then possibly $35k?I'm starting to think capital will aggressively move into speculative safe-haven assets (gold/silver/platinum/bitcoin) over the next 4+ months as the global markets address Fed, stock market, credit/debt risks. If this is the case, then the $18,975 level becomes a critical line of support. Not that the Fed has fired off its round (rate increase), will capital move away from certain sectors and start rallying into safe-haven assets? Time will tell...
BITSTAMP:BTCUSDLong
by BradMatheny
3
Copper HG - Is It Finally Time?I have witnessed much consternation on Twitter over the last months and weeks about how Copper, a critical industrial element, continues to decline in price. All the while, like most other metals, the exchange vaults are being raided of thousands of tons of physical spot, which futures markets need to back short positions. One would think this would result in a price increase, and yet, metals have remained exceedingly bearish. Whether Copper can constitute a commodity in a price action cycle that can be considered bullish, rather than bearish, boils down to whether or not you believe that the $5 all time high set during the 2021-2022 bull run is either the ultimate top or the medium and short term top. Looking at the monthly, the situation is more clear: This pattern stands in sharp contrast to say, Soybeans, which has a very similar pattern of price action, but is less bearish over the last 3 months and also failed to set a new all time high during the early 2022 supercycle test run. Soybeans ZS - Lagging the Pack, but Ready to Go And is somewhat more like Wheat, which did take out the previous long term high, albeit only on a short term sweep. Wheat Futures - ZW - Like Snakes in a Can The contrast is that copper ran the old high three times already. So you really have to consider that the ultimate top may be in. More information on Copper HG can be discerned from the weekly, which shows notable gaps above $4, a healthy V-Bottom following the July dumps, and a close, albeit not-too-close, range bottom to the key Sept' 20 pivot: Breaking it down into the daily, we can see that July month end and August open plinked out a dump high, followed by August being characterized by a slow grind upwards before finally selling off at the end of the month: September, thus far, has opened very bearish, taking out the August pivot (twice, now), yet retaining the overall market structure, and showing an indication that it wants to trade higher. September is not likely to finish in a straight line down. What I like about this call is that while I have mixed feelings that copper will ever see $5 again, despite all the fundamentals saying it really ought to trade for a lot more, the reality is that I believe if it were to turn around and dump to new lows in the low $3s or mid-high $2s, it certainly does this, more likely than not, after raiding the $4 level first, based on how price action has developed. Currently, we're still young in the month and copper has so far traded bearishly, although it's showing a lot of promise in its price action that higher prices, rather than lower prices, are sought for now. The situation in this world is very strange at present. Energy shortages and food shortages are looming, hard, especially if you are in Europe. Recession, aka "Depression" is looming everywhere, and yet the U.S. equities market is still trading pretty high and for a lot of us life is just normal, albeit not as pleasant as before. The dollar index is mooning and many critical currencies from other countries, including ones as strong and crucial as Japan, are being slaughtered, and yet, no matter how siren-sounding Twitter is, price action does not reflect a degree of panic really anywhere. Even WTI Crude Oil, which I called would trade towards the $81 mark at the beginning of August, is trading in such a fashion that despite losing 30% of its value, there is still no fear, no shock and awe. WTI Crude Oil - Running and Gunning And even so far as Natural Gas NG has already lost more than 10%, somehow despite all the fundamentals saying otherwise, nobody is batting an eyelid. Natural Gas / NG - What, Truly, Is a Bull? Right now, everything, everywhere, is just business as usual, and another dip to buy. But for how much longer? A 72 VIX print is looming in the cards, and the lack of fear will truly have such a move catch many off guard. VIX - 9x8 = 72 The hardest thing in trading is not determining the direction or the targets. Instead, the hardest thing is gauging and predicting _when_ the move will happen and how it will unfold, since time is weaponized, and not very many things go up or down in a straight line all that often. Frankly, reason stands that the reality is that we will see Copper trade for prices like $10 in the relatively close future, and if so, then this price action we're sitting at is truly the place where the abyss will start to rage from. But to go long for that day... when does it really unfold? More likely than not, if you want to aim for numbers over $5, you're looking at a date in 2023, and it's very hard to trade options and futures that far out. And never forget, the world's greatest "black swan" looming is the coming collapse of the Chinese Communist Party . When that day really unfolds, most of the world's population will be bamboozled and caught off guard, which is why I call it a "black swan." But in reality, it is a development that is so, so easy to see. If you can't see it, maybe renounce your faith in communism, socialism, Marxist-Leninist stuff, and have better thoughts. Position yourself with the mentality that saw the world defeat Hitler in World War 2. The CCP has killed more than 100 million of its own people during its sanguine 100-year reign, including the 23-year-long organ harvesting persecution against Falun Gong meditation. How much longer can a group of rogues squatting in Shanghai last, soaked in sins like that? Rationality is simply too critical, and the level of one's rationality is connected directly to the level of their morality.
COMEX:HG1!
by LordWrymouth
3
Silver SI1 - $35 Is as Far Away as SaturnOne of the most dangerous things about what is going on in the world today, and thereby the markets, is that the middle and lower classes of society are being directly targeted. There are different forms that the Marxist principle of "Redistribution of Wealth" takes. Decades ago, it took the form of the "scum of society" being mobilized by the Communist Party to invade and occupy places such as farmland. Then, the evil regime would let the anarchists hold the land for a few years, before ultimately sending in the military to slaughter them and take it for themselves. This is what "communism" and its precursor "socialism" are really all about, and you'd be wise to reject the entire thing if you want nary a hair of a future. In recent history, we saw a manifestation of this scheme when the Antifa and Black Lives Matter anarchist groups destroyed property unchecked during the "Summer of Love" riots. That property, which previously belonged to small business owners, often had insurance claims denied and was scooped up on the cheap by large corporations. In present history, the establishment is simply using a combination of the marketplace and "inflation" to achieve the same ends. The problem for silver/gold/platinum bulls is that much of the reason you are bullish is predicated on the narrative disseminated to you that "the dollar is going to go bust because the FEDERAL RESERVE keeps PRINTING MONEY OUT OF THIN AIR and what happens when we can't SERVICE OUR NATIONAL DEBT ANYMORE?!" This is all true, but you should really give it some thought: in the age of computers, social credit, digital identity, and central bank digital currencies, did you really think that the answer to this problem lied in trading metal for rice and flour like we did in traditional times? You should always remember that the markets can, and will, remain irrational far longer than you can remain solvent. Some people turned all of their cash into silver and gold, and a bunch of canned fish and beans, waiting for the Mad Max days. Well, what lies ahead is a painful rout on consumer commodities, personal debt, and personal incomes that will leave people desperate and in need of cash liquidity to survive. And in order to get that cash liquidity, they'll have to sell the silver bars they paid $25-30 for over the course of the last two years back to the fence at prices like $7 or $8. To be clear: if high prices of the commodity will hurt the middle class, i.e. natural gas, oil, corn, wheat, prices will go UP. If low prices of the commodity will hurt the middle class, i.e. silver, gold, bonds, prices will go DOWN. It's going to look something like this (disclaimer: I'm no artist.) And although you might think to yourself something like "single digit silver again? What a buying opportunity," or "Lmao it'll never drop that far" you should bear in mind this is only true if it bounces in two days back to new highs like it did during "Coronavirus Disease 2019" hysterics, and it'll "drop that far" exactly because retail is thinking "it'll never drop that far" and will fancy themselves brilliant to HELOC and rent a dump truck at $16 and $12, only to get crushed. If prices are depressed over the long term you won't feel it's very fun to spend money on a bunch of metal that tarnishes brown if you leave it merely sitting on your desk. I have some. I really like it. But it tarnishes brown while sitting on my desk. Even a dollar store fork doesn't do that. After retail and the middle class have totally capitulated their spot metals, then, and only then, will we see $35, then $50, then three digit silver. Of course, this assumes that this society can last that long. And although it can't, the sociopaths on Wall Street will continue with their plans even as the stars in the sky explode before our very eyes. In the meantime, you should be clear that this is no dip to buy. Silver has no price action to make at $21 until a major reversal, which is not on the horizon, and it is not going to double bottom in any meaningful way at $18. Ironically you can still blindly short this and if your leverage isn't horrific and your timing isn't worse, you'll make some good money.
COMEX:SI1!
by LordWrymouth
PLATINUM | Resistance?Thursday, 25 August 2022 13:57 PM (WIB) I want to analyze the movement of Platinum, regarding it still in the descending box with the lowest price of $731 and the highest price of $952. Now the price moves at the Resistance Lines of this descending box. Actually, the price movement has broken out of this descending box and reached the MA200, and then fall again inside the descending box again. In this situation, Platinum is now at the top of Resistance that possible to create a retracement move. And the price is possible to fall again in the direction of 0.786F or even more low 1F. But the performance between a descending box with the MACD and Stochastic is still not connected to the strong signal. Keep watch and notes.
CAPITALCOM:PLATINUM
by RyodaBrainless
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
Jamie Gun2Head Trade - Selling Platinum Trade Idea: Selling Platinum Reasoning: Bearish outside candle on daily chart, head and shoulders top forming? Entry Level: 925 Take Profit Level: 887 Stop Loss: 936 Risk/Reward: 3.45:1 Disclaimer – Signal Centre. Please be reminded – you alone are responsible for your trading – both gains and losses. There is a very high degree of risk involved in trading. The technical analysis , like all indicators, strategies, columns, articles and other features accessible on/though this site is for informational purposes only and should not be construed as investment advice by you. Your use of the technical analysis , as would also your use of all mentioned indicators, strategies, columns, articles and all other features, is entirely at your own risk and it is your sole responsibility to evaluate the accuracy, completeness and usefulness (including suitability) of the information. You should assess the risk of any trade with your financial adviser and make your own independent decision(s) regarding any tradable products which may be the subject matter of the technical analysis or any of the said indicators, strategies, columns, articles and all other features.
PShort
by Signal_Centre
Gold Steadies in the low $1800'sGold is consolidating in the narrow range between 1815 and 1795. Recall that this was a previous value area from a few months prior. We are wavering about 1800, which is a strong psychological level corresponding to the 0.618 Fibonacci level. The Kovach OBV has leveled off, suggesting that we need more momentum either way before making a significant move. We should have strong support at 1780, the 50% Fibonacci retracement level. If we break out, the next target is 1826, then 1836.
COMEX:GC1!
by quantguy
Gold Caught Between Fibonacci LevelsGold has made another run for highs after finding support just below the 50% Fibonacci level at 1770 or so. We are currently contending with 1795, the level just below the 0.618 Fibonacci level. We are seeing strong resistance forming at these levels confirmed by multiple red triangles on the KRI. From below, we have strong support at 1770, confirmed by green triangles on the KRI. It is likely that gold will hold the range between 1770 and 1800, unless more momentum comes through. A breakout could take us through the vacuum zone above to 1815. If we break down, watch for support at 1758, the 0.382 Fibonacci level.
COMEX:GC1!
by quantguy
Silver is in the buy zone. Reversal imminent.Silver has entered it's buy level of $17-18xx and as the wave pattern comes to the next wave, the price could dip down one last notch. Silver squeeze, which started in Feb 2021 has drained the COMEX of silver, reducing from 150 million ounces to less than 57 million today. At some point the COMEX will declare force majeure and anyone in silver ETFs is going to be mad. No price targets as we need true price discovery... but $600 silver is not a meme. The titanic has hit the iceberg and the life boats are in the water, rowing away while the general public remains on the titanic, drinking and socializing. The titanic is the US Dollar and the life boats are precious metals but silver in particular.
TVC:SILVERLong
by jdharward
4