Platinum Down $26 For The Week
Michael Seery of Seery Futures - InsideFutures.com - Sat Feb 09, 3:24PM CST

Platinum Futures---Platinum futures in the April contract is trading at 800 an ounce down $26 for the trading week as a stronger U.S dollar is putting pressure on prices in the short term.

Platinum prices are now trading below their 20 and 100 day moving average as a possible double top around the 835 level may have occurred in last week's trade.

I have been recommending a bullish position from around the 816 level and if you took that trade continue to place the stop loss under major support at 787 as an exit strategy as I still remain bullish.

I have several bullish commodity recommendations as I do think in 2019 prices will rally, however many sectors have been very stagnant as there is still a lot of uncertainty out there due to the trade war between the United States and China, however I think once that situation concludes you will see the bullish trends start to move to the upside.

At the current time I also have a bullish recommendation in gold which is slightly lower and if you did not take the original recommendation I still like it at today's price level as the risk would be around $900 per contract plus slippage and commission.

TREND: ---LOWER---MIXED

CHART STRUCTURE: SOLID

VOLATILITY---LOW

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