Platinum Rally Capped as Speculators Overheat Prices

Moderator: moderators

kreslik.news
rank: 5000+ posts
rank: 5000+ posts
Posts: 5183
Joined: Thu Jan 14, 2016 9:36 am
Reputation: 0
Gender: None specified

Platinum Rally Capped as Speculators Overheat Prices

Postby kreslik.news » Mon Aug 15, 2016 9:17 am


This guest article was written by James Hyerczyk, financial analyst at FX Empire.

A change in the fundamental outlook and a potentially bearish weekly chart pattern are two strong indications that the speculative rally by October NYMEX Platinum and September NYMEX Palladium may be over for now.

After surging to a 15-month high at $1199.50 on August 10, platinum futures plunged $28 an ounce on August 11, a decline of 2.4%. Palladium futures lost 4.8%, falling below $700 an ounce after reaching its highest level the day before at $747.50 on August 10.

Both moves were strong enough to take platinum ... (read more)

Please add www.kreslik.com to your ad blocker white list.
Thank you for your support.

Return to “news”