Adnan_The_Barbarian

Platinum going under the radar yet again

Long
FX_IDC:XPTUSD   Platinum / U.S. Dollar
Gold and silver have been the focus in the precious metals space but platinum just bounced off of 55DMA and broke out of a bull flag . The percentage gain these last few days has easily outstripped gold and silver . Depending on how conservative you are, we could land at 1400, 1650 or anywhere in between. 1400, 1500 and 1675 have all been significant areas of resistance in the past. It's worth noting the last conservative fib extension was 1250 and we overshot by quite a bit. After years of being unloved and undervalued, the technical set up is great and the fundamental case is also gathering strength with green tech, palladium substitution etc. I don't have a long term target but I've seen 2200 thrown around.

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