Platinum Represents Big Value and Upside in Metals
Updated
Platinum has been one of the worst performing metals. However, it presents a compelling opportunity for upside should the Fed ultimately deliver rate cuts. Based on daily fibonacci patterns, it is holding support at the 61.8% percent lines. And, it is holding weekly, daily, and hourly support. Today, Monday, Feb 5th, does present a unique opportunity to get in long at these lows and ride up a wave to much high level. PLJ5 is currently trading at 883.4 . . . Buy now, with a SL at 870 and a move that could go as high as 1000 within the next month.
Trade closed manually
Had a great day with PL. Stop reached. We are getting out of it here +14 bucks from where we recommended. Potential weakness in gold and silver forces me to take profit here. There will be other opportunties to get in to this once we get some clarity from the other metals. Gold and silver have been weaker today.
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