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Platinum

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 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
Gold May Reach New All-Time Highs Early In Q3:2023My research suggests Gold may continue to rally above $2079 in early July 2023. I believe the current US/Global market crisis event is very unique - something many people fail to understand. Many professional analysts have gotten married to the 2008 market collapse scenario. I'm watching dozens of posts on social media and other sites where everyone is uber short. I don't understand why it seems so many people fail to understand the real context of the global markets right now. In my opinion, this is 2003-05 all over again - mixed with a bit of 1993~1997. Few people really understand what I'm talking about. Let's see if you can tell me what you see in the markets right now. The biggest opportunity of your life is about to unfold. Get ready for a big WAVE-5 Rally.
COMEX:GC1!Long
by BradMatheny
3
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
Greenwashing Can Only Take You So FarSibanye-Stillwater follows a number of broader correlations. Platinum, palladium, gold, gold miners, the SA40. But until now nobody has mentioned that--because of its earnings misses lately-- perhaps the market is pricing in SSW's overextended battery metals M&A strategy. Will they ever make money on their new lithium acquisitions? Is SSW even making money in its catalytic converter recycling segment? It is the largest such company in the world, so it's worth asking. In the short term macro, global electric vehicle production is going to slow; I don't see how SSW will profit from this in the near term. Now to the technicals of my bearish bet. Breakdown from a Rising Wedge has formed into a Head & Shoulders with the second shoulder rejecting back under the 200 Exponential Moving Average after a notable increase in selling volume. Panning out on the longer term, this is a rejection from previous support of the topping structure. I do not believe that this is a breakout from an Inverse H&S nor a base breakout + retest move. I believe SSW has topped and will continue to move lower.
JSE:SSWShort
by sdeutsch95
1
Silver Breaking Out (upward). Gold/Platinum should followGold/Silver bugs - are you ready for what a lot of us have been saying for the past 5+ years. The base/bottom in metals back in 2015 was the critical base for the next big move. This upward price swing should be the next accumulation phase which will drive a speculative phase in about 3~4+ years. That speculative phase will be MASSIVE (should happen near 2027~2029). You gotta love when the world sits and waits for metals to move - then ignores the 40% rally in metals/miners in the early phase - right? Here we go.
COMEX:SI1!Long
by BradMatheny
IMplats long after a extended sideways move Target R259.69Cup and Handle has formed on Implats. The price has broken out and is meandering sideways before the next move up. Platinum companies as well as the precious metal is setting itself for great upside as investors and instiutions are piling their funds into the metal as a form of safe haven... We are going old school right now where the old ways work better than investing in unstable Cryptos... More bullish signs 7 > 21 > 200 Target R259.69 Bullish
JSE:IMPLong
by Timonrosso
Gold is targeting $1860 & $1899 - Beyond $2300 in 2023Gold is doing what Gold always does in a Deprecionary Cycle Phase - sets up a momentum base, then start to build a momentum rally. Current base level is near $1670 to $1710. Normal rally results in a $400 to $475 rally phase before exhausting. My initial targets, $1860 & $1899, are just the first stage of the rally trend. Upside targets for exhaustion should be near $2150 to $2225. Remember, this is just the start of this rally (just like in 2003~05). The real rally in Gold will start in 2027~2030. Follow my research.
COMEX:GC1!Long
by BradMatheny
Silver is up 32% from Sept 1 - Ready for the next move higher?Have you been following my research, weekly videos, and Custom Metals Indexes? If so, you already know why I've been telling traders/investors Gold/Silver are setting up just like 2003-04: building a momentum base over the past 24+ months. The next move higher (over the next 5+ years) should be incredible. Silver is up 32% over the past 90 days. Can you imagine what the next 500+ days will look like? Remember what happened to Silver between 2007~2011? Imagine that, but with a potential amplitude of 2x or 3x. Get ready, it's all just getting started right now. Follow my research. Learn why you need to prepare for the biggest opportunities of your life with my research/algos.
COMEX:SI1!Long
by BradMatheny