Platinum. Trading and Trending.

Posted on Apr 30, 2009 by WHC Bassetti in Letters

Some of our adroit readers correctly saw the short term pattern in PGM and bailed. This was skillful. From a trading viewpoint. On the other hand the trend is still up. The downwave here looks nasty (13.4%) but it is well within the general trend. Also of interest the price is right at the present breakaway gap -- these tend to arrest declines. Also the last gap looks like an exhaustion gap. Traders who bailed might want to stick a toe back in and we are thinking of increasing our trend commitment.

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