Hi everyone! That is my first post here. I do market analysis and do researches in the financial market. Today was making an analysis on Platinum/OZ prices. Nothing special, price movements, corrective moves within the channel.
https://www.tradingview.com/x/kCOmDvXS/
Then I saw this:
https://www.tradingview.com/x/bn8xTdIi/
The platinum price is 868.5, then I opened Gold price to see if Gold is under 500 because as far as I know, the Platinum price should be higher. After making a research I found a very interesting point of no return for Platinum. September 5, 2011 Gold and Platinum price were almost at the same level, after that event, whatever it was, both precious metals started to lose in value. There was a correlative comeback on February 20, 2012, and October 1, 2012, which both lead to another fall.
https://www.tradingview.com/x/Auw46l5y/
Platinum yet made another return testing 1739 again, but either a massive drop in prices of Gold, the formation of a triple top pattern or hype of a Bitcoin didn't let Palladium hold this position and pushed the price down.
Both tested their deep points on the same date. https://www.tradingview.com/x/QmR85Wo7/
January 19, 2015, changed the history. The gold price was higher than Platinum and still is.
https://www.tradingview.com/x/OqGhQrtq/
Something related to Bitcoin caused this? No way!
https://www.tradingview.com/x/2iC0fynU/
Would love to hear your thoughts on this. What could be the cause. Write down below.