Tuesday, February 12, 2008

$PLAT - Platinum Futures


On January 26th, I posted about $PLAT, the Platinum Futures... In particular, the WEEKLY chart showed a clear cup and handle consolidation pattern that had broken out to the upside violently. It turns out there was a strike in the South African mines. However, in the past couple of weeks we have seen a massive jump in the price here. The RED horizontal line represents the old highs and the DARK BLUE CIRCLE captures the recent jump...As far as shorting it, I wouldn't get in the way, just keep an eye on it...

No comments:

Post a Comment