Seeing a possible 6 year inverse head and shoulders on the Sprott Physical Platinum and Palladium Trust (SPPP). This fund holds physical platinum and palladium with 78% of assets allocated in palladium and the remaining 22% in platinum.

The SPPP ETF broke out of a 6 year downtrend against the Nasdaq 100 in October 2018. We also see a key 3.5 year level on the SPPP:$NDX ratio which has served as support, resistance and support again over the last few years.

On SPPP’s nominal price chart, we see that price broke out of the possible 6 year inverse head and shoulders pattern in January 2019. We may see a possible backtest of the neckline at 10.0 before a move higher to a possible price target of 14.5 which is 28% higher than current prices. -Harry