Long

Major bull flag in Platinum

Updated

Platinum is breaking out of a 5-6 week bull flag after tagging its 50 day moving average and reversing from major structure. Precious metals seem to be breaking out in general, but I particularly like the pattern in platinum. I am long all three (gold, silver and platinum).

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July 7th has given us DAILY confirmation.

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I no longer view this bull flag as reliable. More consolidation is needed for an extended move in either direction (which is still likely higher).

I am on the sidelines.

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Platinum now breaking 2 month resistance:

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1k hit. Should see some selling pressure here

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Platinum is still on my watch as it consolidates below 1k. What I'm interested in most is if platinum starts looking more favourable than gold and silver. The spread XPTUSD/XAGUSD and against gold look positive for platinum for the first time in a while. Something to keep an eye on.

Lanmar

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