Platinum chart analysis Archives - INO.com Trader's Blog

A Falling Knife Powered By "Clean" Diesel

Posted on December 3, 2015December 3, 2015 by Aibek Burabayev

Back in July, Platinum closed just below the important round number level of $1000 I outlined in my post titled "Platinum Could Hit The Floor". In that post, I clearly pointed out that the metal is in big trouble. And that was almost two months ahead of the Volkswagen scandal that dropped the bomb on the future of the diesel car industry and its subordinate autocatalyst sphere with its large demand for Platinum.

It's ironic that a two-lettered emission gas (NO, nitrogen oxide) knocked out a two-lettered company (VW, Volkswagen), that can be written in the following equation: VW+NO=K.O. Continue reading "A Falling Knife Powered By "Clean" Diesel" →

Platinum Could Hit The Floor

Posted on July 24, 2015July 24, 2015 by Aibek Burabayev

The Global Outlook: Platinum Is In Serious Trouble

NYMEX_EOD:PL1
Chart courtesy of TradingView.com

Indeed, this metal is very tricky. One moment it can be flying high, then it can take a swing hitting the bottom and again and again. This time around, Platinum is on its way down, falling like a hot knife through butter. Without any problems, it has lost $500, down from $1500.

The minor swing was detected at the $1200-$1300 level on the monthly charts and then the metal slid even faster. The price has easily broken below both the 2006 low at $1059.60 and the 1980 high at $1045. The psychologically important round number level at $1000 has fallen even quicker. Continue reading "Platinum Could Hit The Floor" →

Platinum Demand Hit Decade High Amid Falling Price

Posted on June 29, 2015June 29, 2015 by Aibek Burabayev

Today I prepared Platinum macro data charts to show industry development for the last decade.

Supply And Demand

Platinum Supply and Demand
Chart: Aibek Burabayev; Data Source: Johnson Matthey, LBMA

In 2004 at the beginning of the review period, supply and demand were ideally balanced at the 7.2 million ounces (Moz) mark at $861/oz price. A year later, both Platinum supply and demand showed decent growth, 2005 outweighed 2004 for 0.7 Moz on the supply side and 0.8 Moz in demand; the price had a modest gain of one hundred dollars. Continue reading "Platinum Demand Hit Decade High Amid Falling Price" →

White Metals: Buy In May And Go Away!

Posted on May 20, 2015May 20, 2015 by Aibek Burabayev

Platinum Monthly

NYMEX_EOD:PL1
Chart courtesy of Tradingview.com

The old "Sell in May and go away!" saying is not working these days with precious metals. Both Gold and Silver did very well, moving upside beyond recently unforeseen levels in May.

As seen in the above monthly chart, Platinum is still in a long correction from the summer of 2011 after it hit $1918. Platinum lost almost half of its price, searching for the bottom for the last 6 months. It was a hard time for the traders, as stops were hit both in longs and shorts, but what is worse is that most traders could lose patience and belief in the metal. Continue reading "White Metals: Buy In May And Go Away!" →

Tag: Platinum chart analysis