Loading ...The case for platinum
Update: Looks like you will have to open in the image in a separate tab to view it fully, strange.
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Soon palladium will be used in jewelry and platinum in converters… ha.
I am a fan of Camarilla pivots on D/W/M/Y since they are used by the “pros” as potential intermediate reversal and profit taking points. Platinum, like copper and GDX, has a very similar monthly chart.
2017 was one of the tightest ranges for platinum on record, and it is strong out the gate after the FOMC statement. I am waiting for a potential pullback to 950 before adding platinum APR futures into my portfolio. That backtest may not happen, so who knows.
The image expands for me Mort….that’s quite an ambitious chart there
Cheers…and welcome to the tent
Thanks Mortdiggiddy! The platinum and palladium conversation is few and far between…I am starting to follow these two with intrigue for some more opportunities. Thought Platinum was a good buy a few weeks back and it fell but has rallied rather nicely. One part of me says get some more platinum and the other part says beware.
Thanks!
Another interesting thing is the COT data for PL futures… If you click the 20 Year tab at the top you will see that the managed money position is the lowest on record (blue line on bottom graph).
https://www.barchart.com/futures/commitment-of-traders/technical-charts/PL*0
The weekly chart looks like a legit v-bottom to me with some kind of inverse head/shoulders.
Cheers.