Platinum Prices Look Interesting
Platinum Futures–-Platinum futures in the January contract settled last Friday in New York at $900 an ounce currently trading at 892 down about $8 for the trading week as prices are stuck in a 3 week consolidation pattern.
Platinum prices are trading below their 20 day but still above their 100 day moving average as the trend is mixed, however historically speaking prices look very cheap in my opinion especially compared to gold as I will be looking at a bullish position if prices hit a 4 week high as I think the downside is very limited.
Volatility at the current time is relatively low as prices remain mixed to choppy so keep a close eye on this market as we could possibly be involved in the coming days ahead.
Platinum prices have sold off about 10% from their August highs as I still think we will crack that $1,000 level once again, but be patient as trading in a consolidation is very difficult to be successful in my opinion as you want to trade with the trend so look at other markets that are breaking out at the current time as I have multiple bullish recommendations.
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