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Platinum Responding

Long
NYMEX:PL1!   Platinum Futures
Platinum is responding to technicals and fundamentals. The recent pullback is holding constructively out above several converging support indicators. Fundamentally, Plantinum is finding a bid after Industrial Production topped expectations +0.6% MoM v +0.3% exp. The strongest component was Motor Vehicles and Parts +6.6% MoM. Relief from semiconductor supply chain stress is a major driver here.

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