The precious metals markets are looking pretty bullish
right now, and I think that platinum
might have set in a major base at $1150 in February. It's still too early to determine whether or not the down trend in place since last July is over, but technicals are telling me that a long term low might be established if all metals rally in March. The risk/reward ratio for a long strategy with a stop below $1140 (watch out for spreads on this metal) appears attractive, and my first upside target is at $1290. If all goes well, a new rally will lead to a breach above $1300 later this year.
above $1150 and will remain confident on this strategy so long as platinum
remains above $1180 (horizontal monthly support).