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Platinum / U.S. Dollar

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XPTUSD trade ideas

XPTUSD Technical outlookXPTUSD Technical outlook Bullish scenario: The Platinum broke very important resistance zone between 960 and 1000 usd. Now the price is holding above the zone narrowing its daily range. As all trends are moving between two phases – Impulse and Correction the last three-four days sideway movement could be taken as a correction of the impulse started on a 10.11.2020. With the above said if the price breaks its four days range above 1030 level the bulls could take the price to 1073 and if this level fold then the path to 1170 will be open. Bearish scenario: If the price break below 1063 support level, then the first target for the bears will be 905 and if it doesn’t hold then we may see 840 support level hit. Fundamental: One of the most important things now is the huge spread between gold and platinum which show us that the platinum is quite undervalued on historically bases. The other thing to consider is the except that the platinum is also e precious metal it has a usage in the industry. This fact alone with the huge spread between prices of the two metals gives slightly bigger advantage of the bullish technical scenario
OANDA:XPTUSD
by greenforexsig1
LONG ALL THE WAY!Hello friend, Platinum has broken out of the H&S pattern; this reminds of the days when gold broke the H&S pattern before the wild run we saw in previous months. Based on the pattern, I would buy platinum in the support zone indicated in the cart; more of a positional trade rather than a day trade. The target for the broken H&S comes around $1,500 which means 40%+ gain in the coming weeks/ months. Keep in mind that Platinum did not have similar run like gold or silver, so it is likely Platinum will outperform other metals in the next rally. Please share your thoughts and if you like this analysis, please like and follow. Good luck!
PLong
by Zaitermo
3
Platinum- 1200 on medium term?November was quite a month for Platinum with the price rising 30%, but most importantly with a significant break above 1000 psychological and technical resistance, a resistance that held since 1017. At this point, the price is in a normal and necessary correction, and confirmation of 1k as new support would bring bulls into the market and the price can rise to the next important zone at 1200. Buying at 1010-1020 zone could be a great trade for the medium-term and only a drop under 950 would change this bullish outlook
OANDA:XPTUSDLong
by Mihai_Iacob
3
Platinum Playing Catch Up?Looking at the Platinum monthly chart, we see a very large pattern has formed. This is a long term analysis, but judging from the current economic conditions and the fact that the FED will continue to print money and devalue fiat currency, the metals market will likely see slow steady growth over the next few years. Platinum is looking very strong, a break of the downtrend could trigger a large thrust up and be the start of the platinum bull market. Fingers crossed, happy trading to you all. Stay calm, patient, and level headed.
TVC:PLATINUMLong
by CryptoSyphn
2
Platinum Flying To The Cloud Friday, 4 December 2020 20:24 PM (WIB) What could give a profitable return on ROI besides Gold and Crude Oil is Platinum. Once we hit the target without losing our funds, we could achieve a huge profit on these market. Now, Platinum is on the way to the sky, but it seems to need a retracement move first that might be landing at 1000 areas. A very strong upraising movement we can see at the base ground support and rising wedge formation at the highest high. I will use a very safe order on Platinum with 10% of my funds, with a loss stop at $300. Best regards, RyodaBrainless "Live to Ride and Ride to Live"
OANDA:XPTUSD
by RyodaBrainless
PlatinumFriday, 4 December 2020 07:40 AM (WIB) The most compelling reason to invest in platinum is diversification. Most investment portfolios have an extreme concentration in stocks and bonds, and commodities provide a way to mitigate some of this risk. Platinum also offers traders a way to profit from growth in the automotive industry and the industrial sector in general. Emerging economies will continue to expand, and as they do so, their citizens will consume more manufactured goods. Investing in platinum allows traders to capitalize on this trend without having to invest in local emerging country stock markets. Investing in platinum allows traders to profit from a weak dollar as well as strength in consumer spending. Growth in large industrial economies such as the United States has often occurred at the expense of a strong currency. In fact, US policymakers have kept interest rates low to stimulate consumer borrowing and grow exports. Investing in platinum, however, does have its risks: 1. A slowdown in the auto sector or a global recession would almost certainly depress prices. 2. The development of new automotive emissions-reducing technology could also sink prices. 3. Significant Fed tightening and strength in the US dollar may lead to weaker platinum prices and weaker commodities in general. Best regards, RyodaBrainless "Live to Ride and Ride to Live"
OANDA:XPTUSD
by RyodaBrainless