Platinum Futures–Platinum futures in the January is currently trading higher for the 3rd consecutive trading session up another $4 at 934 an ounce hitting a 5 week high as I am currently not involved, but I do think prices are going higher and look to test the $1,000 level in the coming weeks ahead.
If you are long a futures contract I would place the stop loss under major support standing at 875 as an exit strategy as my only recommendation is a bullish silver position. Platinum prices are trading above their 20 & 100 day moving average as this trend is higher as the chart structure is solid and will start to improve next week.
Historically speaking platinum prices look very cheap especially compared to gold as I will take advantage of a price pullback to enter into a bullish position as I think the downside is limited. The U.S dollar is near a 3 month low as that is a supportive fundamental indicator towards higher prices so continue to play this to the upside.
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