XPTUSD
Platinum breaking out of bearish trend, get your bullets readyAlmost half a year later, we have waited for this commodity to shine again. Indeed, it does not disappoint as it has break out of its bearish trend line. The resistance level at 1031 is crucial as it has been tested several times.
I would consider buying if it breaks out of this resistance level
PLATINUM may be on the verge of a strong year-end rally!XPTUSD (Platinum) has had a strong rebound last week that started exactly on the Higher Lows trend-line of June 2020. The commodity may be repeating the 2020 pattern that lead to a massive end-of-year rally.
However it needs to get past (break and close a 1D candle above it) the 1D MA50 (blue trend-line). As you see since XPTUSD hasn't closed a 1D candle above it since May 18 2021 with the rejections on it being brutal every time. In 2020 once it closed above it, the price soon started a strong rally. Notice how the RSI is on Higher Lows now in similar fashion as in 2020.
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PLG potential 30xBuying shares of PLG at this confluence of trendlines and support. With platinum (XPT) currently being so undervalued while having bullish looking chart, I see this as potential 20-30 bagger. Great RRR.
Entry : 2
Targets : 10, 40 and 60
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⚠️Disclaimer: I'm not financial advisor. This is not a financial advice. Do your own due dilingence.
💨𝙋𝙡𝙖𝙩𝙞𝙣𝙪𝙢 𝙁𝙪𝙩𝙪𝙧𝙚 - Long Term 🐂 Trend🌊 𝙋𝙡𝙖𝙩𝙞𝙣𝙪𝙢 𝙁𝙪𝙩𝙪𝙧𝙚 (𝙋𝙇1!) — 𝙀𝙒𝘼
The senior wave degree is borrowed from the counting of the structure for gold and silver , which have a much longer history of quotations. The second slide shows how the correction, presumably the fourth wave of the “Supercycle” degree, is taking place in most metals, and the commodity market as a whole.
Further, taking into account the fact that the upward wave from the orthodox top (IV) is a single zigzag, it is correct to make an assumption about the formation of the ending diagonal (V) , within which wave III unfolds.
PL1! : 🕐2W
Wave ((A)) in the composition of III of (V) must also take the form of a diagonal . At least, the double zigzag that has passed from the end of wave II , in the context of the senior degree, can be interpreted as the first subdivision in its composition.
PL1! : 🕐1D
The first targets at 38.2% in wave (2) have been reached, the double zigzag W-X-Y of (2 ) looks complete. Growth is expected to resume by the intermediate wave (3) , the minimum targets for which are to go beyond the top of wave (1) .
PL1! : 🕐4h
The wave marking in the double circle parenthesis corresponds to the green marking in the circle on the chart.