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Platinum (XPTUSD)

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PLATINUM trade ideas

Pullback Due?!So we start this analysis from the monthly. We had a very strong December which pierced through that blue zone which had acted as resistance since August.We know price likes to retest any strong zone broken through,so that is the basis of our trade,a retest of the blue zone. We also notice that at the top price is hindered by the monthly cloud which happens to be aligned with the future SSB. This creates a strong resistance and adds confluence to our pullback hypothesis. We mark this resistance zone with yellow. Now to execute this trade we zoom in to the daily. Price is currently showing good rejection from the yellow zone but we cant trade that yet. To be certain we take the 2nd rejection from yellow zone ( which would be in other words a retest of breaking out of that zone). So as the arrows suggest we wait for drop, retest,rejection from yellow then we are in... Will update when actual entry materializes
TVC:PLATINUMShort
by taftrader
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
Platinum to Blow Higher in 2020 in a Big Way: Don't Miss It!Platinum, alongside Gold and Silver are one of my top outperforming sectors for 2020. However, Platinum is incredibly undervalued and has ALOT of catching up to do. I believe Platinum will do what Palladium did and quietly run up at-least 35-40% in 2020 (possibly 50-60%) with very little slowing down until it reaches at-least 1700-1800. In fact, I wouldn't be surprised if Platinum and Gold finish close together by the beginning of 2021 nearing 1700-1800 USD/oz. One of most attractive parts of Platinum (technically speaking) is Gold and Silver move together, however, Platinum can move independently. Further, Platinum is "rarer" and "harder to mine" than Gold and Silver but typically doesn't act as a monetary hedge like Gold does. What this means is when its "time" for precious metals to run, Platinum can run parabolically at any-time. In my opinion you can't go wrong investing in Gold/Silver/Platinum bullion and choosing 1 high quality mining stock of each. A lot of people have messaged me asking to post my top performing sectors for 2020 and my list are as follows: 1) Canadian energy (Enbridge, TRP and Canadian Natural Resources) 2) IIPR (Cannabis REIT) 3) Precious Metals (Gold, Silver, Platinum) 4) US Technology For Platinum the only stock you want to be in is Impala Platinum. And for Platinum bullion you want PPLT. - zSplit
OANDA:XPTUSDLong
by PaulDeep19131
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