Looking To Buy Platinum

Looking To Buy Platinum
Looking To Buy Platinum

Platinum Futures—Platinum futures in the July contract is trading lower for the 2nd consecutive session down another $10 at 1,202 an ounce and traded as low as 1,178 earlier in the trading session as prices have been stuck in a relatively quiet consolidation over the last couple of months.

If you take a look at the daily chart the uptrend line remains intact as I remain bullish on this commodity as I’m looking for a little further sell off before entering into a bullish position as the monetary risk would also be reduced.

At the current time I have a bullish silver recommendation as I think the whole sector continues to move higher as today is blamed on a quiet trading session. Platinum prices are trading above their 20 and 100 day moving average as the trend is to the upside as the 10-year note hit the 1.70% level today as that is a bearish fundamental factor towards higher prices as many sectors were lower in today’s trade. In my opinion I do not believe the February 16th high of 1,351 will be the top and 2021 as I still see much higher prices ahead so be nimble and look to be a buyer soon





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 




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