Platinum peaking?
Posted By Mike On Jan 14, 2010 @ 9:42 am In charts, gold | 4 Comments
Here is a 1-year view of platinum (blue) vs. gold (purple). PL made new recovery highs this week as gold and silver potentially finished up corrective rallies from their hard decline off their December highs. PL is the odd man out, and bullishness has been running very high here, mirroring the overall optimism about commodities. The parabolic rise in PL’s chart reminds me of gold’s peak last month. Also nice from a trading perspective is that there is a fairly tight stop available against the high.
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Source: Interactive Brokers
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