Platinum hits 1.5-yr. high; much more upside room to run
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(Kitco News) - Platinum futures on Wednesday traded sharply higher and hit a 1.5-year high as prices approach $1,000.00 an ounce. See on the weekly continuation chart for nearby platinum futures that prices have rebounded smartly from the 2019 low. However, see too that the weekly chart shows prices are still well into the lower one-third of the recent historical trading range. That suggests there is still much more room to run on the upside for prices in the coming weeks and months. The next upside technical objective is longer-term technical resistance at the $1,030.00 area. A move above that resistance area would open the door to a rapid move to $1,200.00, and above.
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