Platinum USD intermediate forecast is $1600 | 28 May
Platinum Price Forecast relative to Long Term Monthly - Medium Term Weekly - Short Term Daily - and Hourly (not shown) data.
PLATINUM FORECAST
(Previous week in brackets)
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| Platinum USD | Monthly | Weekly | Daily | |||
|---|---|---|---|---|---|---|
| 1177 (1167) |
||||||
| PT Trend | ↓ (↓) | ↓ (↓) | ↓ (↓) | |||
| PT % Risk Weight |
80 (80) | 42 (43) | 23 (12) | |||
| PM Distribution Total allocation 50% (35%) |
Pt:35% | Ag:30% | Au:35% | |||
Platinum / USD live price
Platinum comment
28 May 2021 close: With channel support at $1070 our Pt cushion is still 15% (after 0.5% storage cost) whilst the long term picture must first develop peaking action. This looks to be many months away with intermediate channel resistance at $1600.
If Platinum closes above $1200 this quarter, the current quarterly downtick as shown on the quarterly risk chart below, with today's close at 1177 will turn back up.
No update this week on our Gold/Platinum ratio analysis. Platinumn however looks to be ending its correction against gold fairly soon as short and medium term risk weight is ready to change direction from being significantly overbought.
No Change to our physical Platinum allocation.
21 May 2021 close: Platinum has been the strongest metals since the Black Swan event of March 2020 into 2021 and consolidating until now in a broad $150 range. The low of that range is $1125 which cannot be excluded short term, but even though all time scales are trending down, a serious technical top has yet to be produced. Our interim objective of $1600 stands firm.
PlatinumUSD (Interim) Quarterly 28 May
