JSE:IMP Given the weakness in the platinum miners and resource stocks in general in the last few weeks, it takes some bravery/optimism/fondness for punishment to start nibbling at long positions.
Some resource stocks, and platinum miners in particular, are tilting bullish. on JSE:IMP: - Golden cross & bullish confirmation on 1D MACD - Bullish divergence on weekly MACD - On Weekly: Crossed 5EMA and heading towards 15EMA - On Daily: Crossed 5EMA & 15EMA, and 5EMA is threatening 15EMA cross.
What do you think - bottom in? Looks like a reasonable risk reward trade if you keep your stops tight. I'm looking to enter at R246 with a stop at R239, target R271 ... 3.5:1
Both the NASDAQ and SP have performed last week. But we have yet to see the DOW exceeds its May 2021 (week of 7 May) high. If the Nasdaq spikes higher this week
and DOW does not follow, we need to be care full . It seems that the commodity prices have topped for now (including gold).August to October 2021 can be a turning point
to downside .Do not trade when uncertain. I would prefer just to wait a while longer to let the market show us the way forward.Thank you for the analysis.
AlloysK
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I think its time to go long. I placed an order - Buy @23700 Close @27000.
Thank you for analysis. The prices of precious metals including platinum is weakening.
June is normally a seasonal high for gold . July 2021 will be interesting. Let us wait a while.
LuckyPat
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@Thinus5422, Hi, Any updates on Platinum Palladium in your view for July? Thanks
and DOW does not follow, we need to be care full . It seems that the commodity prices have topped for now (including gold).August to October 2021 can be a turning point
to downside .Do not trade when uncertain. I would prefer just to wait a while longer to let the market show us the way forward.Thank you for the analysis.