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Platinum & Palladium – A Nice Addition to Your Precious Metals Portfolio
Be prepared for the next great transfer of wealth. Buy physical silver and storable food.
news.goldseek.com / By Przemyslaw Radomski / November 21, 2012
Yesterday was a good day for the whole precious metals sector – all important assets rallied sizably with the USD Index declining 0.38 (0.47%). It seems that the brief consolidation that we saw in the last couple of days is either over or almost over and the whole sector is poised to move higher.
In our last essay we wrote a lot about the importance of diversification and we believe it is a good idea to continue this thread a bit more in today’s essay as well. And this is why we would like to draw your attention to two precious metals that seem to be in gold and silver’s shadow, as we think they provide good investment opportunities. So, in order not to put all our eggs in one basket, let us move on to the technical part of today’s essay and have a look at platinum and palladium that didn’t lag behind the more renowned precious metals yesterday – we’ll start with platinum’s short-term chart (charts courtesy of http://stockcharts.com.)
In the chart, we see that prices have broken above the declining resistance line. We saw three consecutive closings followed by a move back to this line, which was immediately followed by a pullback. And yesterday’s price action is reassuring with platinum closing at almost $1584. At this time, the breakout has been confirmed and higher prices should now be expected.
Thanks to BrotherJohnF
2012-11-21 20:00:48
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