XPTUSD trade ideas
Platinum Long in viewPlatinum has been on a very long bearish correction since its last bullish move. Now we are back to where it all started. Expect a sharp bullish move away from the current low then wait for a correction that will signal that the bulls have taken over the market then trade with appropriate risk management.
XPTUSDBuying platinum in the long term looks very promising. The cost of platinum production is above $ 800. Platinum is a substitute for palladium in industry, the price of which is very high. It is also a precious metal. By the middle or end of the year, platinum should definitely begin to rise in price. After 1-2 years, we can see the price in the region of $ 1,500.
XPTUSD (Platinum) long entry TP 918usd.XPTUSD (Platinum) long entry TP 918usd. The analysis shows that platinum may turn north from its current level. This is because the D1ATR range seen in the white rectangle stopped at 50%. If you turn from this level (866usd), there may be a significant rise before moving. The D1ATR50% turning points always indicate a strong trend start.
Platinum still bullish, for now...Platinum right now hobbles at key 0.618 regions as it performs a correction; however as Corona virus fears increasingly rise I would start to consider an exit at the 0.786 Fibonacci region at approximately $900 as Fundamentals right now especially in the face of what is being referred to as "a pandemic in everything but name", will beat technical analysis.