Platinum Begins A New Rally – Gold & Silver Will Follow

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Published : December 01st, 2020
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Category : Market Analysis

My researcher team and I have highlighted a number of recent articles about Gold and Silver and how we believed the longer-term price activity and technical analysis supported a broad market advance in Precious Metals over the next 5+ years.  If not, check out Part I and Part II of our recent Gold and Silver research and price predictions.

Today, we are seeing further evidence that metals are on the move – in Platinum. Platinum has been trading below $1000 for quite a while and this is roughly HALF the price level of Gold.  Typically, Platinum rallies before Gold rallies in a traditional trending phase.  Platinum rallies because it is used in industrial and other fields – thus it rallies in an advanced market rally phase.  Gold begins to rally when a certain level of fear enters the markets or the markets enter a depreciation phase.

Currently, we are watching Platinum rally above $1000 for the first time since August 2020 and it appears new all-time highs in Platinum are on the horizon.  This suggests Gold and Silver will follow this upward trend in another rally phase and attempt to set new all-time highs as well.

DAILY PLATINUM BREAKOUT PENDING

This Daily Platinum chart highlights the Rounded Bottom formation that setup between September and November 2020 after the August highs peaked out near $1020.  The recent rally in Platinum has begun to accelerate and we believe an upside breakout move is pending.  This may prompt Platinum to rally above $1250 or more over the next few weeks/months.

THE WEEKLY PLATINUM CHART

This Weekly Platinum Chart highlights the broader market trend in Platinum and the resistance level (RED LINE) that is currently about to be broken.  Once this resistance level is breached, a bigger upside move may begin where Platinum may target $1250 or higher fairly quickly.

As you can see from We believe this move in precious metals aligns with our previous research that a broader market Depreciation phase has set up in the global markets.  We believe precious metals are about 24 months into a 100+ month broad market depreciation cycle.  This means that we may see a rally in metals that lasts for several more years.

As many of you may already know, we love the metals and we love to apply our technical analysis skills and pattern research onto these charts.  Could you imagine the scope of the rally that is setting up in Platinum mirrors the 2003 to 2010 price rally – just waiting for this breakout pattern to complete?

Get ready because this could be one of the biggest upside price moves in precious metals in over a decade.   Sign up now to get a pre-market video every day before the opening bell that walks you through the charts and my proprietary technical analysis of all of the major assets classes. You will also receive my easy-to-follow ETF swing trades that always include an entry price, a stop, two exit targets, as well as a recommended position sizing.

Our signals can help you preserve and even grow your long term capital. If you have any type of long-term or buy-and-hold account and are looking for signals as to when to own equities, bonds, or cash, be sure to become a member of my Long-Term ETF Investing Signals, which includes a weekly market update and trade alerts to catch big market rotations.

Chris Vermeulen
Chief Market Strategist
www.TheTechnicalTraders.com

NOTICE AND DISCLAIMER: Our free research does not constitute a trade recommendation or solicitation for readers to take any action regarding this research.  We are not registered financial advisors and provide our research for educational and informational purposes only. Read our FULL DISCLAIMER here. 

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Chris Vermeulen has been involved in the markets since 1997 and is the founder of Technical Traders Ltd. He is an internationally recognized technical analyst, trader, and author of the book: 7 Steps to Win With Logic Through years of research, trading and helping individual traders around the world. He learned that many traders have great trading ideas, but they lack one thing, they struggle to execute trades in a systematic way for consistent results. Chris helps educate traders with a three-hour video course that can change your trading results for the better. His mission is to help his clients boost their trading performance while reducing market exposure and portfolio volatility. He has also been on the cover of AmalgaTrader Magazine, and featured in Futures Magazine, Gold-Eagle, Safe Haven,The Street, Kitco, Financial Sense, Dick Davis Investment Digest and dozens of other financial websites.
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