These two markets look interesting together because of the similar price action. Notice how rice was in a descending triangle followed by a breakout. These are typically bearish patterns, but not always, clearly. I believe platinum is in the same consolidation phase before it breaks out. Notice it took rice approximately two years to break out from its established support. Platinum seems like it's on the verge of doing the same. I've seen some traders present shorting opportunities in platinum. I think that's a big mistake.
Other than that, what does platinum have to do with rice? I'd say nothing. There is no inverse or positive correlation whatsoever. Perhaps there is something more between the two, but that is not the point of the analysis.
Bình luận
⋅
Just hit TL resistance. Be aware.
Bình luận
⋅
breakout should be confirmed on a weekly scale. Look for entry. I am adding at the 952 level.
Bình luận
⋅
990 level is a place to add for those that missed it or looking to extend leverage. Pay attention to purple level: