Platinum Trade Idea: Go Long with a Price Target of $1,100
Rationale:
COT sentiment
The last COT report shows that Commercials' net short positions have been decreasing, which could indicate a shift in sentiment towards the bullish side.
The COT report can be used as a tool to gauge the market sentiment of traders. When Commercials' net short positions decrease, it could signal a potential shift in sentiment towards the bullish side. This could be due to factors such as improving economic conditions, increased demand for platinum, or geopolitical events that could impact the price of platinum.
Option Sentiment
There has been a significant increase in insider option activity, with a notable number of calls being purchased at 100$ strike price. This bullish sentiment has been further corroborated by the options open interest, which has also increased.
Technical Analysis
From a technical perspective, Platinum breakthroug range.
COT sentiment
The last COT report shows that Commercials' net short positions have been decreasing, which could indicate a shift in sentiment towards the bullish side.
The COT report can be used as a tool to gauge the market sentiment of traders. When Commercials' net short positions decrease, it could signal a potential shift in sentiment towards the bullish side. This could be due to factors such as improving economic conditions, increased demand for platinum, or geopolitical events that could impact the price of platinum.
Option Sentiment
There has been a significant increase in insider option activity, with a notable number of calls being purchased at 100$ strike price. This bullish sentiment has been further corroborated by the options open interest, which has also increased.
Technical Analysis
From a technical perspective, Platinum breakthroug range.