Platinum (XPTUSD) is trading around the 1D MA50 (blue trend-line) after a rebound on the bottom (Higher Lows trend-line) of a potential long-term Channel Up structure. This is the 2nd time it bounces off the Higher Lows and the 4th within the 7-month Support Zone.
The 1D MACD made a Bullish Cross last week and is on Higher Lows since June 30. The very same Triple...
Since the beginning of July, Platinum has been trading in a 100 USD range, between 900 and 1000 USD per ounce (more or less).
The start of September found the price at the bottom of this range and the price has started to rise again.
A first leg up followed and after XptUsd reached 950, a correction started.
Yesterday we had a reversal in price from interim...
Platinum (XPTUSD) is rebounding after entering the S1 Zone, which is the bottom part of the Rectangle pattern that has been keeping the price action sideways for the past three months. The 1D technical outlook is neutral (RSI = 45.406, MACD = -7.150, ADX = 37.615) as a result, which justifies this ranged price action. The 1D RSI is rising on a HL trendline, thus...
Bearish Setup
-Price was in an uptrend
but now it has stopped making higher highs.
-RSI is also showing bearish divergence
-The price point has also
rejected from resistance
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Platinum (XPTUSD) is having a strong start to the week following a streak of 2 red 1W candles rejected on both the 1W MA50 (blue trend-line) and 1W MA200 (orange trend-line). Regardless of the obvious 1W Golden Cross pattern that those two are aiming to complete, the price got again near the 895 - 903 Support Zone, which has been closing all 1W candles above since...
Technical Analysis:
As you can see, there exist a Hidden Bullish Divergence with MACD and it is the very sign of bullish trend continuation as the Price is Bullish Bounding in an ascending channel.
We draw Fibonacci retracement from the low to the top of previous impulsive wave for specifying the Bullish Cycles and the Possible Pivot Points and Reaccumulation...
Platinum has started the month with a local low shy under 1k psychological figure, a reversal followed which also led to a break above the descending trend line started in May.
At this moment the price is exactly in the horizontal 1040 resistance and a break above this zone would also confirm an inverted H&S pattern.
Buy trades considering this setup would have a...
Today's focus: Platinum
Pattern – Support hold, trend break
Possible targets – 1070
Support – 993
Resistance – 1035, 1070
Today’s update is on Platinum. We have run over our thoughts and levels we are watching. Yesterday’s solid rally has held support and has started to test support after breaking the current downtrend. Will we see buyers clear resistance and...
Platinum (XPTUSD) is trading on a Triangle pattern which is within a larger Channel Up. Last time we had this sequence on patterns was last November-December. Once the price hit the 1D MA50 (blue trend-line), it rebounded to the 1.5 Fibonacci extension. The current 1.5 Fib is at 1180 but we set a Target slightly lower at 1170. Notice how even the 1D MACD sequences...
Since the Platinum Bobble burst back in 2008, the price was unable to recover, regardless of the all-time high on other PMs.
However, looking at the weekly posted chart we can see that the low after the burst held extremely strong, and after January's higher low, XptUsd also has broken above the falling trend line.
At this moment the road to 1350 resistance is...
The bearish price action in TVC:PLATINUM that started since Feb 2021 has the hallmarks of a bullish flag:
Overlapping waves WXYXZ
No significant price movement compared to the bullish impulse from Mar 2020 to Feb 2021.
It has taken more than 2x the time to retrace 61.8% of the previous impulse move.
Forecast:
Platinum breaking below the...
The metal shows strong set of lower highs complaint with Fibonacci retracement levels. Current bounce back from fib resistance followed by bearish candlesticks are a strong indication for going short in this commodity
I'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...
XPT 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...
Big bull run could be start for Platinum if blue trendline is broken.
Target is 5500 according to fib levels based on log scale.
Shading is just an example way.
It is suitable for long-term investment.
