Platinum Prices Higher 3rd Day In A Row

Platinum Prices Higher 3rd Day In A Row
Platinum Prices Higher 3rd Day In A Row

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.

TREND: HIGHER

CHART STRUCTURE: EXCELLENT

VOLATILITY: AVERAGE

 

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

 

TWITTER—@seeryfutures

FREE TRIAL FOR THE LIMIT UP COMMODITY NEWSLETTER

 Email: mseery@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.