Platinum still on long term trend target
17 December 2021 close An uneventful period came to live as selling took over last Tuesday Wednesday and then returning to close in the uneventfull range of the past 3 weeks. However the bottom triggered serious bullish Daily divergence, whilst weekly looks to be in the process of doing the same. If that happens 2022 should have a very promising short term start. Monthly risk weight is simply moving into to lower risk during this 1 year correction whilst quarterly risk has dropped fast and could as easily turn up again if shorter term risk indicators take the lead. Fundamental long term strenght should come from increasing demand from larger industries looking to use hydrogen fuel applications for cleaner production. It just needs one industry to take a serious hedge on physical platinum and the metal will make our predicted move. We did take a very small physical Palladium position (2% of total metals) at $1593, 3% above last week's bottom. No Change to small overweight PT hold.
03 December 2021 close Platinum is showing a similar technical picture as for Silver. As we mentioned several weeks ago, Platinum will find itself at the mercy of increased industrial demand. This rarest and the heaviest of all precious metals historically trades above gold. Hence our long term slight overweight allocation also in response to still very positive technical readings in all time intervals at this moment. Support is 900 give or take a few dollars but even it slips below this likely produces a very low risk opportunity. This will be confirmed by the Gold to Platinum ratio. 'HOLD'
Platinum/USD risk position relative to Quarterly, Monthly, Weekly and Daily risk weight data.
(Previous update in brackets)
|PT Trend||↓ (↓)||↓ (↓)||↑ (↑)|
|PT % Risk
|28 (28)||22 (30)||45 (5)|
Portfolio allocation 40% (40%)