Platinum was the king of metals just a few years ago (in terms of price, not at all market cap!)
Gold has since then delivered a knockout to platinum and showed once again that gold = the true king.
The gold/silver-ratio shows that silver and other alternative metals are outpacing gold in this recent rally and that a shift might be emerging.
With all the global economic panic, negative yield-crisis, stock markets being in a parabolic bull run for an overextended period of time now. Precious metals will be more and more interesting to watch everyday.
Platinum however has been somewhat shy this rally. Looking at the chart we can see a descending triangle in the making for about 10 years!
I know a descending triangle is often a bearish sign.. but.. Looking at the 50 month moving average we can see that the price of platinum is trapped between this ma and the upper trend line of the descending triangle.
This makes the change of a break upward very very likely in my opinion.
Strategy:
I am deversifying my gold holdings (for long term) in silver for a good swing trade on the gold/silver-ratio and i am also taking a close look at platinum.
If the 50 month ma is proves itself strong and platinum breaks above 1000 dollars (out of the triangle) then this will be a very interesting trade.
If the triangle does not break upward then an opportunity to buy at the base support level of around 800 usd might emerge.
Lets see what the market decides to do! I can't wait...