J.P. Morgan Cazenove Platinum Week
My thanks to a subscriber for this informative
data on platinum shares.
David Fuller's view I remain a secular bull of platinum (p&f,
monthly-semi, weekly
& daily) but I am wary of the
current price action. Platinum did not rally much as the USD weakened recently,
and it has underperformed most industrial metals and gold. The white metal has
also fallen back from the June high near $1620. A break under $1500 which lasts
more than a day or two would look like a Type-2 (extreme reaction against the
prevailing trend) with right-hand extension top, as taught at The Chart Seminar.
Platinum needs to maintain a rally above $1600 to offset this risk.