Hey guys, there is an annual seasonal setup in Platinum which begins during the middle of December and extends until February/Early-March timeframe. The meat of the move seems to occur from end-December until mid/end-January though. While last years movement was fairly muted due to the weak capital markets, I am aiming for a $150/oz upside move this year. TP range...
850 is the range likely for a few weeks with a pulse to 800 range. Then the price could fall to a cost of production for a few months...maybe even a pulse below that for a few weeks. Might even stay there long enough to get some physical at decade lows. Then again who wants dollars? I guess 2.8% interest for a 10y bond with prospects for 7% inflation looks good...
200 week moving average is providing quite some level of support on platinum. Feels like the metal is building steam for another move higher? While price continuously traded below the declining 200wma in years before, for the first time in years we are seeing price hold up above this important average, while also seeing the 200wma pointing north which is...
Fully expecting PPLT to trade the 120's in July and then break out to ATH. 113 1st resistance level.
After a tightening price range in the uptrend channel, platinum prices have fallen below the price channel flipping the trendline from support to resistance. Next line of support is around 1100. If inflation fears ease, or if stocks take off and crypto continues it's selloff, more money will flow into those markets and I think there may be further downward...
On the previous post on 8/4/20 I also suggested an upswing soon as the ".4" point was approaching.(see link below). But after the rise there has been a stall which may be soon over. So watch for signs of reversal. If this count is correct the next upswing could be a hefty one. I don't trade futures. Other possibilities to trade this include PPLT, and mining...
nice back test of the break out so far. TGT: 22 $PPLT $PALL
Looks like the longer term trend in PALL vs PPLT is turning towards Platinum strength. I will post a chart on Platinum soon.
Nice break out here on good volume. $PALL $PPLT $XBM.CA
Commercial producers in Platinum have been heavy sellers in the NYMEX contract lately. This action typically bodes poorly for Platinum prices shortly thereafter. Once the commercials get down to -50k contracts, this can be a good signal to short. Using this weeks "Eskom Power Shortage" news to open a new short position on the NYMEX PL contract. In times passed,...
Looks like a stage 1 base is forming in platinum. Looking for a big move to the upside. Will be trading PPLT
It showing a little bullishness near a nice demand zone, a simple ABC would put us at about $844 Target right near a long-term resistance.
Wish I had published this sooner, as I absolutely nailed today’s massive price action. I’m entering a partial position to hedge against the possibility that we don’t revisit the 790’s and low 800’s. If we do though I will buy a lot more. Without a pullback its a 6% profit, with the pullback its 9%. Decent little trade.
Palladium started strong selloff while Platinum holds strong. PA:PL ratio was at historical highs. Platinum is holding strong and did make new highs when Palladium made lower high. COT is confirming reducing commertials positioning in Palladium
Platinum is looking ready to explode (go look at my Platinum chart) and PPLT is slowly following platinum. I'm bullish over the medium-term
Number of factors set to influence Platinum for the month of March: - Double Top Resistance at $880 - RSI tag of +70 on the daily chart, momentum exhaustion - Seasonal Bearishness starts end-Feb/early-March and completes until end-March/early-April - Expiration of NYMEX April Futures Contracts, expected producer selling up until first notice day - Continued...
Take a look at this chart showing how the safe-haven metal platinum has been underperforming and is now at major support. I expect money to flow out of the leader palladium and into platinum over the next few months. See Palladium chart: