Platinum Prices Are At Important Levels
- Posted by JC Parets
- on February 14th, 2013
This is such a fascinating space. Precious metals, often times, are in a world of their own. Meaning, the absolute prices gain and lose correlations with other asset classes constantly. We’ve mentioned the Platinum to Gold ratio here before and that spread continues to work. The Gold to Gold Miners ratio also keeps rocking as Miners can’t seem to find a bottom.
But today let’s focus on the absolute prices of Platinum. The daily chart below shows the important overhead resistance between 1720 and 1740. This level has been trouble for over a year now. But the 1900 and change resistance up above that goes back to 2011 is still a long way from current prices.
We probably want to see this resistance cleared before taking on any significant risk. But I think it’s awesome that Platinum continues to dominate the precious metals space. So in relative terms, it obviously looks great. But on an absolute basis, I think it’s worth pointing out that we’re hanging out up here at some real levels.
Full Disclosure: Nothing on this site should ever be considered to be advice, research or an invitation to buy or sell any securities, please see my Terms & Conditions page for a full disclaimer.blog comments powered by Disqus
J.C. Parets is the Founder & President of Eagle Bay Capital, LLC. He is a 10-year veteran and Market Technician who actively manages money incorporating Technical Analysis and Behavioral Finance into his practice. JC’s work has been featured regularly on CNBC, Fox Business, Bloomberg, Business News Network, Wall Street Journal and Yahoo Finance among many other financial media outlets. More...
- How To Prepare For a Lower Rate Environment
- Audio: Benzinga Morning Radio Show 5-21-15
- BNN Appearance: Agribusiness Stocks & US Dollars
- Agribusiness is My Favorite Base In The World
- Audio: Benzinga Morning Radio Show
- Here’s Why I like Shorting Disney Up here
- A Not So Happy Cinco De Mayo For the Mexico ETF
- One-Third Of the Year Is Over. Now What?
- What I’m Waiting For To Buy Base Metals
- The Must Follow Podcast: JC Parets
Archive by Year