October Platinum futures, green shoots off Friday price action?
Platinum futures alongside other metals have clearly been bearish and the Platinum Metals Group [PMG] consisting primarily of Palladium and Platinum have been selling off in recent sessions and Platinum recently dipped below 900 to 984.2 making back-to-back bottoms at 894.2 once off the extended session and once again off the following RTH session now exactly 5 Fridays' prior. We then appeared to quickly reject that price point below 900 and have attempted to push back above 1000 clocking a high of 1003.7 on Tue July 18th. This appeared then to be a failed breakout above and we have promptly dropped back to 935 in yesterday's session which appears to tout some green shoots and suggesting a second attempt back over 1K price handle. Will we hold 930's and sail higher? This upcoming week will tell and I remain bullish into the week ahead seeking a target back up above 1K.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.