Platinum Futures—Platinum futures in the October contract is sharply higher this Tuesday afternoon in New York up $23 or 2.75% at 861 an ounce looking to break out to the upside in my opinion. I will be recommending a bullish position if prices break the 868 level while then placing the stop loss at 800 as an exit strategy as the risk is around $3,400 plus slippage and commission.
The volatility in platinum is starting to increase as gold prices hit another all-time high today as my other precious metal recommendation is a bullish silver trade as I think the whole sector continues to move higher.
Platinum prices are trading above their 20 & 100 day moving average as the trend has turned and I think prices will retest the May 20th high of 931 possibly in the next couple of weeks so play this to the upside as the risk/reward is in your favor in my opinion.
CHART STRUCTURE: SOLID
If you are looking to contact Michael Seery (CTA—COMMODITY TRADING ADVISOR) at 1-630-408-3325 I will be more than happy to help you with your trading or visit www.seeryfutures.com
If you’re looking to open a Trading Account click on this link www.admis.com
There is a substantial risk of loss in futures and futures options. Furthermore, Seery Futures is not responsible for the accuracy of the information contained on linked sites. Trading futures and options is Not appropriate for every investor.