Short Term Trading forex trading links forex trading books market statistics trader values euro and us dollar Shocks Crashing Precious Metals: Platinum is overbought and could decline

Tuesday, 12 February 2013

Precious Metals: Platinum is overbought and could decline

platinum, precious metals, futures trading
A decline of platinum to 1640/1600 is possible short-term. The precious metal is leaning against the resistance line of the past twelve years. There is a divergence between the price of platinum and the RSI indicator on the daily and weekly charts. Accordingly to the Commitment of Traders report (COT),  futures funds have accumulated almost 55,000 contracts of the precious metal. It represents the highest level ever recorded. At the contrary, short platinum positions are at the lowest level.

The data contained herein is believed to be drawn from reliable sources but cannot be guaranteed, neither the information presented nor any opinion expressed constitute a solicitation of the purchase or sale of any forex, futures or commodity product. Those individuals acting on this information are responsible for their own actions. Forex, futures and commodity trading may not be suitable for all recipients of this report. The risk of loss in trading forex, futures and options can be substantial. Each investor must consider whether this is a suitable investment. All recommendations are subject to change at any time. Past performance is not a guarantee of future results.

No comments:

Post a Comment