PPLT Platinum ETF Monthly Chart; Oversold; Falling Wedge; Positive Divergence; Lower Band Violation

Platinum has been whipped hard and put away wet the last 10 years. It is a bludgeoning. The beatings will continue until moral improves. The Uber driver said he pulled his money out of PPLT and will never invest in platinum again as long as he lives. The negativity is off the charts and this jives excellently with the possie d.

The RSI is coming off of oversold levels and the stochastics are oversold both parameters agreeable to see a bounce in this monthly time frame. The falling green wedge is a bullish chart pattern. The chart indicators are all positively diverged (green lines) as price makes lower lows. This possie d places platinum on the launch pad.

The purple box shows the ADX identifying the downside crash in 2015 and 2016 as a strong trend lower, however, that strong trend lower petered out in 2017. Platinum price is falling but it is no longer in a strong trend lower (which hints that a solid base is occurring). As platinum recovers this year, the ADX may rise higher into the purple box in the right margin which would signal that the potential trend higher will be a strong trend higher. An Aroon positive cross will also confirm that happy joy is in store for platinum all year long.

PPLT is a great long pick going forward but Keystone will likely not play it. Keystone is a day, VST (very short term) and ST (short-term) trader and not an intermediate or long-term investor. If you are someone looking for a safer place to park your dough for a few months or year or so, or if you do not have time to follow the stock market every day, platinum would be a good play for you. Scale-in on the long side over the next month or two and sit on the trade until this time next year.

Platinum may also weather the storm better in a big stock market drop since it is already beaten beyond recognition. Buy, buy, buy. This information is for educational and entertainment purposes only. Do not invest based on anything you read or view here. Consult your financial advisor before making any investment decision.