Platinum expected to follow through above $1,000 | 12 November
Platinum Price Forecast relative to Long Term Monthly - Medium Term Weekly - Short Term Daily - and Hourly (not shown) data.
(Previous week in brackets)
|PT Trend||↑ (↓)||↑ (↑)||↑ (↓)|
|PT % Risk
|37 (36)||72 (70)||81 (46)|
Portfolio allocation 40% (40%)
12 November 2021 close The stronger close versus Open in October and, thusfar, similar in November shows that Platinum is finding better rythm to withstand the pressure from the past decade. Quarterly risk weight has also turned up from a fairly strong drop and there is no technical indication to suggest Platinum cannot meet our predictive levels over the next 12 months or even sooner. With hurdles, we predict to see 1200 fairly soon followed by breaking 1600 and reaching a level closer to 1:1 against gold. If the other metals take a lead, Platinum may well overtake the speed of ascent as we have seen many times before in history. We hold Platinum (14%) with a small overweight vs Gold (12%) of total allocation.
05 November 2021 close The ridge between $900 and 1040 between mid 2016 and mid 2017 has been a target support and resistance for the past 3 months. We are now at that upper resistance level and a break above it should re-confirm the long term trend. With monthly still down but clearly narrowing a short term push up may turn monthly into an uptrend by December. The is a preferred technical scenario but it may also take longer again as more opportunistic traditional precious metals investors have turned their eyes towards other asset classes, especially Crypto. No Change however to our 14% physical Platinum holding.