Will Palladium & Platinum Follow Gold & Silver?

As you already know, both Gold & Silver have broken out of their consolidation patterns, but what about the other less talked about metals; Palladium & Platinum ?

Palladium is currently consolidating in a 4 months contracting triangle, which way the breakout will occur is still vague, so keep 765 & 685 levels on your watch list

Palladium

Platinum is also trading in a triangle for the last 6 months, but what is interesting is the incomplete Head & Shoulders bottom that is forming inside which gives indication that a breakout to the upside is much more likely. Watch 1480 level.

Platinum

Subscribe on the right or follow me @theartofchart

Advertisements

Can Platinum Really Drop 30%?

Platinum’s chart looks extremely bearish. As shown below on the weekly chart it has formed a 3.5-years H&S Top. Furthermore, the right shoulder formed a 1.5 years consolidation rectangle and the magical 1400 zone, 1,375 to be exact has been able to support the metal until now…. If this zone is pierced decisively LOOK OUT BELOW !!! this plunge will be nothing compared to Gold’s recent decline and target will be 1,000….at least

platinum, gold, metals, bearish

Platinum Weekly