Platinum USD intermediate forecast is $1600 | 14 May


Platinum Price Forecast relative to Long Term Monthly - Medium Term Weekly - Short Term Daily - and Hourly (not shown) data.

PLATINUM FORECAST

(Previous week in brackets)

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Platinum USD Monthly Weekly Daily
1225 (1249)
PT Trend ↑ (↑) ↓ (↑) ↓ (↑)
PT % Risk
Weight
82 (83) 57 (60) 47 (68)
PM Distribution
Total allocation 30% (35%)
Pt:35% Ag:30% Au:35%

Platinum / USD live price



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Platinum comment

14 May 2021 close: Platinum risk turned mildly positive last week and midly weaker this week with some late consolidation Wed to Fri. Long term trend is definitely up and we expect a more visible break towards our next resistance at 1337 fairly soon. Our position is 16% above acquisition price, hence a comfortable wealth preservation hedge to hold on to.

7 May 2021 close: Risk weight turned up marginally in all time scales as platinum followed the precious metals rally during the first week of May. We have yet to see a bearish risk to price development in Medium and long term time scales, which is a condition for getting concerned during a major uptrend cycle, which in the case of Platinum started on March 16 2020 and should last several years.

PlatinumUSD (Interim) Quarterly 14 May


GOLD/PLATINUM Ratio Price Risk Charts & Analysis

(Previous week in brackets)

Gold Platinum ratio Monthly Weekly Daily
1.5034 (1.4652)
Trend ↑ (↑) ↑ (↑) ↑ (↑)
% Risk
Weight
13 (10) 49 (30) 96 (58)
PM Distribution
Total allocation 30% (35%)
Pt:35% Ag:30% Au:35%

Gold/Platinum Ratio Charts

Daily Ratio 14 May

Daily risk weight rushed up to 100% and turned down at 96% whilst well up on last week. Completion of the short term Platinum correction may take another week or 2 even in order bring Weekly risk weight into

 

 

Weekly Ratio 14 May

Weekly Gold Platinum ratio risk continues to sprint upwards without, relatively, much price change. Reason to remain patient for this longer term trend to return to equilibrium.

 

Monthly Ratio 14 May

We simply repeat last week's comment in this longer term chart:

The mild correction that has been developing since February has caused this blip up in risk weight which again could easily last a bit longer although we are looking at an interim monthly chart reading. We expect the Gold/Platinum ratio price to fall into the 1.20 to 1.30 range that was recorded in 2015-2016. We are in the early stages of a major reversal cycle trend and that always develops bullish divergence near the end of the cycle before a major potential turn can be expected. That has yet to materialize.

Qrtly Ratio 14 May

The correction in the current trend is now pushing risk weight to 20% from 18% last week. The trend from last Quarter is still strongly down and thus more room to process a larger price adjustment during the next few quarters. That next few quarters Gold/Platinum ratio downtrend could materialize anywhere from Q4 2021 into 2023.

Quarterly Risk weight increased from 16% to 18% this week versus 30 April and versus 28% on March 31. The Quarterly risk trend is strongly downward and needs shorter term time scale confirmation to be broken. We suspect this is many quarters into the future so we stay with the leading long term trend.

 

 


Daily Ratio 7 May

Daily risk weight turned up one week ago, down during the week and ended turning up at a slightly lower risk level. It looks and feels like the 1.40-1.50 consolidation range may continue a while longer. Historically we'd be looking for a deep Daily risk weight level before a more serious reversal can materialize. Downtrend not finished.

 

 

 

Weekly Ratio 7 May

On the weekly chart we notice the relative risk versus price as the current sideways pause looks quite tiny whilst risk weight developed a strong upturn. Upward price pressure may continue and lengthen a bit but the outllok is for a resumption of the downtrend within one or two weeks.

 

 

Monthly Ratio 7 May

The mild correction that has been developing since February has caused this blip up in risk weight which again could easily last a bit longer although we are looking at an interim monthly chart reading. We expect the Gold/Platinum ratio price to fall into the 1.20 to 1.30 range that was recorded in 2015-2016. We are in the early stages of a major reversal cycle trend and that always develops bullish divergence near the end of the cycle before a major potential turn can be expected. That has yet to materialize.

 

Qrtly Ratio 7 May

Quarterly Risk weight increased from 16% to 18% this week versus 30 April and versus 28% on March 31. The Quarterly risk trend is strongly downward and needs shorter term time scale confirmation to be broken. We suspect this is many quarters into the future so we stay with the leading long term trend.

 

 



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Posted in A - All Financial Blogs | 2021 Forecast, PLATINUM FORECAST 2021 | EYEFORGOLD.

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