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Platinum (XPTUSD)

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PLATINUM trade ideas

Plat finding supportThe price of platinum has since January 2023 nose-dived by roughly 16% which has seen the metal fall below its 200-day MA price of $947.60 to touch lows around $910 in Feb. The metal is however finding some support on the green 61.8% Fibo retracement level of $922.85 and the longer-term blue 23.6% Fibo. Technical indicators are supporting a move higher for the metal with a re-test of the 200-day MA looking likely over the near-term. A break above the 200-day MA price will allow the metal to claw its way higher towards the 50-day MA price currently at $1012.03 in my view. The heavily oversold daily RSI and the rolling over of the MACD indicator supports this price action, but for now we need $922.85 to hold its ground. (I’m not too familiar with the fundamentals regarding precious metal prices, some references or pointers would be greatly appreciated. I mainly watch the price of plat to support my USDZAR views)
TVC:PLATINUM
by Goose96
1
Platinum: Potentially Nearing OversoldThe majority of my research insights are published for clients and occasionally highlighted on this platform. To become a regular recipient of my research, including trade ideas, get in touch with me today for a brief discussion. Price momentum is down however the indicators point to the commodity nearing oversold conditions Nearing incline support Is trading just below the 61.8% Fibonacci retracement level Consider the following for today or in the next 2 to 3 sessions: the development of a piercing candle formation i.e. a print below the prior day low and a reclaim of those lows to suggest that buyers have started to step in. Traders could consider building a small buy/long position on confirmation/improvement in the price action or structure.
TVC:PLATINUM
by techpers
Platinum nascent bull market I’m a metals bug but haven’t been convinced of a full blown metals bull market since corona Now I believe is time Inflation is now dialled in, but they can’t keep raising ad infinitum else the web of debt financial system will collapse It may be that endogenous financial ruin is part of the reset- but I don’t believe the comptrollers would risk their own wealth to do this It will be more subtle Platinum has the additional fundamental of green hydrogen I think metals are preparing for a face melting bull run Ofc this would require general sentiment to be mehish at best, which of course it is The major downtrend is shown here in orange/brown It’s had a few goes at breaking this The corona low was a divergent low I’ll be surprised if platinum doesn’t have a monster breakout this year NFA
TVC:PLATINUM
by Great_Reset_Investing
Platinum long scenario Oke guys, I'm going to watch this for potential long if price give us second touch of the ATL, it showed good rejection at first touch and now I'm looking for a pullback to POI and if it comes to the marked zone, I will wait for 4H rejection candles and after that I'll consider buys. Confluences are: 1. Daily 50EMA touch 2. Nice break and retest of S/R zone 3. Bullish trend on 4H, D, W 4. 61.8% fibs 5. initially it showed rejection at the first touch of daily 50EMA Technically its looking good, but remember that we jump in longs only if we see a good 4H rejection candles at marked zone
PLong
by JivkoXristov
Platinum could rise to 1200 zoneSince the late September low and strong support from 850, Platinum has had a nice rise of around 30%. On the last trading day of 2022, the price also broke above 1050 resistance and, after confirming this break as a genuine one last week, Friday's candle is a bullish engulfing. All these are suggesting up continuation and the 1200 zone could be next for Platinum. Buy dips in the 1070-1080 zone could be a good strategy that also offers 1:2.5 R: R
EASYMARKETS:XPTUSDLong
by Mihai_Iacob
Platinum is the one to buy and hold for yearsI've been bullish platinum for a long time now, but breakouts from such long-term ranges take time. We've seen similar shapes in crude oil and in copper, both of which have broken out. I started discussing the upcoming crude oil breakout on Twitter in 2019 already, and I've been doing the same for platinum. In time, we will surpass the all-time highs, which isn't strange considering that platinum can be used as an industrial metal to support the electrification trend. Don't expect this to breakout tomorrow. It could take until 2024, but I'm very confident that it will be a matter of time. In the short term, I am looking for a drop by possibly as much as 3-5%, which is when I will start adding to my existing position. A critical level is $1,040 and it seems likely that we will see a test of that level before we head back to the current levels. On a side note: platinum looks like it will be outperforming gold in the coming years. The gold/platinum chart is an interesting one to look at. PS: Please disregard the RSI indicator here, it wasn't supposed to be shown.
TVC:PLATINUMLong
by Birdseye88
1
XPT with a long setup and a short setup - trying to break resistXPT enter on the next daily candle after the breakout - must be a retest candle I would set an alert and enter a SHORT once the target is hit - very high probability price action will come down due to very strong resistance at 1169.15 This would be a great SHORTING opportunity with first target around 1046 second target around 969 price movement prediction Price Prediction not financial advice this is for entertainment purposes only always DYOR
EASYMARKETS:XPTUSD
by TradeIntuition
Is platinum in a big bull run!?Thing was I haven’t pay attention the full charts.. even V shaped bottomed formed at the 800 area. What I see this chart carefully platinum is in a bull run the buyers pressure went harder and want it to breakout and go higher ; look how remarkable the volume is incredible isn’t it? I agreed to aldemap ( shout out to you ). Platinum is indeed in a bullrun. Once that trend line break then breakout bullish official. Platinum season is coming strong for the metals. Highest high yearly was 2300.. the new high target long term is 5000 but can hit 6000 possible. Target for 2023-2024 is first 3500 then last longterm target is 5500
OANDA:XPTUSDLong
by JoyBoyVegae
1