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Platinum Futures - Jul 24 (PLN4)

Real-time capital.com
Symbol
Exchange
Currency
PLDerivedUSD
PTRTSc1MoscowUSD
JPLc1TOCOMJPY
PLc1CMEUSD
PLc2CMEUSD
PLc3CMEUSD
PLc4CMEUSD
PLc5CMEUSD
PLc6CMEUSD
Currency in USD
Disclaimer
1,005.50
+14.70(+1.48%)
Closed

Platinum Futures Discussions

As of last 07.05 COT report net longs increased by 8k from -4k to +4k..This is good news for bulls…Our uptrend pattern may be 1030-1050-1100 next week.Supply deficit news and some dovish data announced would be catalysts..PD divergence also supports..
closing at 1,006 is to me a LT break out and it should go higher next week if there isnt a suddan stock market crash
Vulnerable time can be open on a 330pm Sunday for futures..... I am more interested in what happens in the first 24 hours of first open of the week. This close is nice, if it goes strong. As I said....pounding down if little material is available, is futile. The paper market does need some material behind it. Or, it gets found out soon, and dies. Which is why Shanghai is now seen as the more responsible market.
Test of 1000 in process.....can go multiple times... Linda Lovelace territory. Or is that Miss Jones?
It only makes sense for Plat NOT to revisit crazy lows, and 980? What reason? If Plat phyz is getting tight, the supply, then drawing the price down will not likely cause too many folks to unload, for others to get that bargain. I think we are entering the traditional paradigm of value in Plat. As in a time we last saw long time ago.
technically speaking 950-960 should be retested from above, but not lower, may happen up to 24 sessions since last monday
How are the shorts feeling right now LOL
980 would be only bottom from now on..it shouls close +1000 today
1200 next week..
1030 first
Normal for Plat would be a minor swoon below 1000, then test, and climb atop and not look back.
Julius Malema, elections South Africa 19 days from now. Just pay attention. It matters for miners....potentially negatively. But, it may be super positive for the phyz metal itself.
still +10 pending from here
Homey where you
piggy coming back down, 984 today
moves like there is a deficit. Until it moves until they ran out of storage space. We are close to the later
you think it will suddenly drop
just look at the daily chart. This thing does that alll the time
i am looking at daily if it stay like this but could also breakout
it needs to break here otherwise it will go back from where it came
Acceleration wedge is my favorite
it has still brakes on for now :)
$1000 will be destroyed here shortly
seems to be very hard to break the $1000
https://www.reuters.com/markets/commodities/platinum-set-biggest-deficit-decade-2024-says-johnson-matthey-2024-05-08/
That is the reason of divergence from Palladium and +1000 push..suceeded at the close I guess
Look at the huge rounded bottom on the 1 year. Long platinum is a no brainer from here.
Current pattern on the 4 hour is called an accelleration wedge. Expect a large thrust upwards as shorts are given no chance to exit
it will be interesting to see the next Platinum Quarterly that will be published on the 13 of May
will likely be the samo playbook....exceed, go back below....rise, test and move on to the upside. How long? I dont care, provided it does within two weeks.
you folks saying psych hurdle is there. Yes, because people still manage trading overall. and people use simple markers they can see and remember. 1000 is a marker in traders minds. Long and short ones.
whats go8ng on with metals? any reports i missed?
Let‘s first exceed 1000 even 990-995
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