Platinum has setup into a longer-term FLAG formation and has recently broken the APEX of this FLAG. The long term potential for Platinum, in conjunction with the advance in Rhodium, Palladium, Gold, and Silver, is a new Bullish Price Trend.
Our researchers believe Platinum must move above $1200 for this new Bullish trend to anchor a “Breakout Base” formation. The current investment environment suggests a new metals rally is setting up. Fear is starting to take hold of the markets and industrial and manufacturing demands are still driving prices and supply demands higher and higher. As investors pile into the metals as a form of safety, we expect Platinum to rally above $1200 within the next 4 to 6+ months and begin a much broader rally to levels above $1600 overtime.
Demand for Platinum has increased because of two main reasons:
1) Rapid increase in consumption in SE Asia
2) Increase in acceptance of fuel cells.
As we learn more about the industrial and manufacturing demands for Platinum. It becomes evident that a new upside bias in trend may just be getting started.
Traders need to understand and consider the opportunities presented by this incredible longer-term setup in Platinum. Could platinum DOUBLE in price within 12 months? Could it TRIPLE?
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