Platinum: The Most Atrractive Metal Setup Right Now

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Platinum: The Most Atrractive Metal Setup Right NowPlatinumOANDA:XPTUSDkventinkaAs for platinum, I currently see an interesting buying opportunity in this metal. The stop-loss can be kept relatively tight (1737), which makes the setup attractive from a risk-management perspective. I also like the fact that today platinum managed to break above the previous highs. The price had been trading within a range for quite some time, and today we finally saw a breakout. The price has pulled back since then, but I still believe platinum has upside potential. It has also been consolidating for several days, so there is a chance of a strong move higher if buyers regain momentum. Compared with palladium, which failed to break above its previous high today, platinum looks much more attractive to me. Looking at the other metals, gold has also been somewhat weak over the past few days. The broader trend is still bullish, but in my view the potential upside is currently more limited.