J.P. Morgan Cazenove Platinum Week
Comment of the Day

August 11 2010

Commentary by David Fuller

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.


Back to top