The precious metals complex has been under pressure since the April highs for several reasons. For one, the dollar has been on the rise, and typically when the dollar is ripping higher the precious metals will take a hit to the downside. Also, treasury yields have also been ripping higher adding to the bear case for the metals. Looking at the chart on a weekly...
Hello There!
Welcome to my new analysis about PLATINUM FUTURES on the global timeframe perspective. The precious metals market is moving into a decisive momentum within the recent times as developments within the financial markets point to a continuation of exceptionally high interest rates within vast majorities of economies and a continuation of hawkish...
Spot palladium is the physical form of palladium that is traded on the spot market. It is not a futures contract, and it is not subject to the same margin requirements as futures contracts. This makes spot palladium a more attractive option for investors who want to avoid the risks associated with futures contracts.
The outlook for spot palladium in the next 3...
Weekly PL futures chart shows multiple support touches and also the RSI is quite oversold. Add to this a small green candle after many down weeks.
I like to bottom fish. Getting in this early is a gamble. If nothing else, it is a good time to look for further confirmation that the trend is turning up.
This is my first idea post. I would've wanted it in the futures...
There are a number of reasons why the price of platinum is expected to increase in the future. These include:
Reduced supply: The supply of platinum is expected to decline in the coming years due to a number of factors, including:
The depletion of existing mines
The high cost of exploration and development
The environmental regulations that make it more...
We expect Platinum to erode the downtrend that started in May 2023 at the level of 931 and move upwards. Our confidence in this projection stems from two factors. Firstly, the market is rebounding off a robust 3-year uptrend, indicating a strong underlying support. Secondly, there's a notable divergence in the daily RSI, which indicates a loss in downward momentum...
no reason to be long platinum when it is underperforming uranium like this
ZERO reason to be long PLATINUM.
URANIUM on the other hand...
#uranium #platinum
Platinum futures alongside other metals have clearly been bearish and the Platinum Metals Group consisting primarily of Palladium and Platinum have been selling off in recent sessions and Platinum recently dipped below 900 to 984.2 making back-to-back bottoms at 894.2 once off the extended session and once again off the following RTH session now exactly 5...
Since our last update, Palladium broke below a Descending Triangle at $1,614 and is currently at $1,227.
The downtrend is strong and now there is a Rounding Top formation.
Break below and it could very well go to our first target of $880.
I'll let you know.
1000 is an important supply = demand zone for PL. Failure to break above yields a potential near term short sell set up to the recent bullish trendline.
Primarily, we expect Palladium to move downwards once more to dive into the yellow zone between $1176 and $1088. There, it should finish wave v in green as well as wave (b) in blue before taking off in the direction of $1577. However, there is a high 48% chance of the metal being an early bird. In that case, Palladium would have already concluded wave Alt.v in...
Palladium futures are up against a downtrend line and the 21-dma. A decisive move out above $1300 on a weekly close should open the door to a test of $1360 at minimum.
The Platinum market has been under pressure and has seen some strong selling from the April highs at 1148.9. With the potential supply surge in the palladium market, there are stronger concerns that Platinum will be dragged down as well. On the technical side, we are seeing a nice inverse head and shoulders that would indicate prices shifting to the upside, and...
Platinum is on its way downwards to develop wave Y in light green and still has got room to expand. Indeed, there is a 30% chance that the price could even drop into the green zone between $758 and $659, establishing the low of wave Alt.Y in light green instead. Primarily, though, we expect platinum to turn upwards before reaching the green zone.
