Timonrosso
Long

31 October 2019 - Platinum - 10 year breakout

OANDA:XPTUSD   Platinum / U.S. Dollar
Might seem a bit optimistic, but it's clear that Platinum has broken out of its 10 year downward-sideways triangle range...

Fundamentally this is due to a number of factors:

Reason #1: Supply is dropping mainly in Russia and South Africa

~ Impala is cutting over 13,000 jobs '
~ Shafts are reducing from 11 to six
~ Lonmin is cutting over 5,270 jobs

Reason #2: Demand is pumping

~ Platinum demand has picked up over 660,000 ounces compared to last year
~ Impala platinum is paying dividends
~ Platinum companies are considering fund acquisitions and share buy backs.

Reason #3: Crucial $780 is dirt cheap and buying is picking up pushing the price up...

Thoughts?

Will update as things progress, I do see a number of platinum companies lining up breakout patterns,





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