A metal more hated than Gold Only stocks carry long term value at all time high levels! Metals at 8-10 years lows do not!!! :-)
The world has become very strange in last 3 years. These spreads will adjust at some point, but we don't know when and how.
Looking at Platinum only, we see it is even more bearish than Gold, however it is reaching interesting levels.
Monthly:
- Long term bearish Ichimoku setup has been valid since July/2014
- Price reaching a very important zone which acted as support/resistance zone which acte
during last 12 years!
- Heikin Ashi candle is bearish with lower low, however smoothed haDelta has started to build some positive divergence
- EWO has reached an extreme low, last seen during 2008 price collapse!
It may take a few more months, but 800-850 zone may slow down sellers again!
Daily:
- Clearly bearish trend and Ichimoku setup
- Price reached lower side of vearish trend channel, price got too far away from Kijun and Kumo (equilibrium)
- Heikin Ashi candle body shrinks with smoothed haDelta ticking higher. -> consolidation or early signal for possible pull back
- EWO is also extremely low, we should see a corrective wave soon
Strategy:
For now only watch for a max. 0,5 risk unit swing long! Take the trade only if Heikin Ashi pull back signal confirms
