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Xptusdshort

XPTUSD – bearish continuation …07 June, 2021While Gold had been rising, Platinum has been on a decline recently. It did make a multi-year high on 16 Feb but fell back right away. Recently it has been consolidating within a channel and on Thu last week , it broke out impulsively below it. Friday’s price action was choppy (check out H4 chart) and I see it like a pullback to the channel bottom. I anticipate a bearish continuation in this metal with targets located at $1128 and possibly $1000 area. As always, watching the price action on a lower time frame before committing to a trade is advisable. If you like my analysis, please give it a “thumbs up” and follow me to get immediate notifications. Always use sound money and risk management in all your trades.
OANDA:XPTUSDShort
by Trading_Vista
1
Platinum Top on the Way..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, any news relating to a South African miner's strike or a Eskom Power issue typically results in a 2-3 day price jump which is short lived as the producers come in to sell it back down. Will add additional contracts every $10 higher. Profit target is when the commercials have covered contracts (or have delivered metal) back into the -20k range which likely means the $780 to $800 range.
OANDA:XPTUSDShort
by kaotic363
We hit XPT with 944. What's next?After our successful plan last time and hit even more than we anticipated. So what now? Our short term plan is to have a small correction as low as 915. Then we go up again for the midterm. As Platinum is quite volatile, short term against the main trend is very risky so we refrain from entering it. With low leverage, it can be tried like this: Entry: 935 Stop: 944 Final target: 919. Remember that the bigger time-frames signal us that it will surge but the likelihood of correction before moving up is pretty high.
OANDA:XPTUSDShort
by UpbeatFX
Seasonal Bearishness for Platinum Begins..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 excess supply concerns, secular low-prices, backlash on diesel emissions. Short from $860, Take profit $770
OANDA:XPTUSDShort
by kaotic363