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Platinumlong

Platinum Futures. Watching and Waiting to go LongPlatinum, along with gold and silver, have been in a decline for the past month (20 bars) with no reprieve in sight. We will be looking at previous S/R zone of 890-900 for entry points. Bottoming is usually a process and we never look to "pick the bottom". We've learned over the decades that that's a losing game with a negative ROI. We are merely examining which spots give us the highest probability and then use prudent risk/reward management to entry and exit trades with predefined stops and targets. Let's keep it simple.
NYMEX:PL1!Long
by kinetictrading
Platinum - LongAlthough platinum is considered a safe haven, it also thrives in a productive economy. This gives it a great chance to do well during 2017, as people will turn to precious metals during times of uncertainty (which there will be a lot of in 2017), and with Trump wanting to spend like crazy on industrials (emissions control amongst other uses), this could propel platinum. We also received a bullish car sales report today, as an increase in car sales means more catalytic converters will need to be built, which requires platinum. There is also bearish divergence in the RSI.
OANDA:XPTUSDLong
by GeorgeJimas