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Are Platinum Prices Going Higher ?

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Platinum Futures--- Platinum futures in the January contract are trading higher for the 4th consecutive session up about $4 at 949 an ounce as I have been recommending a bullish position from around the 936 level and if you took that trade place the stop loss under the 2 week low standing at 921 as the chart structure is solid at the present time.

Platinum prices are trading above their 20 day but right at their 100 day moving average, however for the bullish momentum to continue we have to break major resistance at 957 as I'm bullish the entire precious metal sector as I am also recommending bullish positions in silver and gold.

The U.S dollar is down about 15 points to start the week off hitting a 6 week low as that is supporting the precious metals in early trade as I'm also looking at a possible short position in that currency as I do think that trend could strengthen to the downside in the coming weeks ahead.

Take a look at the daily chart in platinum as there is major support around the 915 level as prices have been bottoming out over the last couple of months in my opinion as the original risk on the trade was around $800 per contract plus slippage & commission as platinum can become an extremely volatile commodity with large price swings on a daily basis.




If you are looking to contact Michael Seery (CTACOMMODITY TRADING ADVISOR) at 1-630-408-3325 I will be more than happy to help you with your trading or visit

Skype Address: mseery TWITTER---@seeryfutures



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About the author

Michael is the sole owner of SEERYFUTURES.COM which is a commodity futures and options consulting, advisory, and educational firm.

Michael frequently appears on multiple business networks including Bloomberg News, Fox Business, CNBC Worldwide, CNN Business, and Bloomberg TV. He also writes market commentary for several commodity websites and is interviewed for commodity comments by the Wall Street Journal. He is also a guest on First Business, which is a national and internationally syndicated business show.
Michael started his career in 1990 at the Chicago Board of Trade as a runner. He soon worked his way up to becoming a Series 3 broker. He works with seasoned traders as well as novice beginners educating them on trading the futures markets as well as using simple and complex option strategies. Michael covers all markets including grains, metals, energies, and all other futures markets that are traded.
To Michael the biggest lesson any trader needs to learn is risk management. Michael believes this is the most important factor in trading. He also works with traders to help them determine the proper risk for their trading style. Michael has spent a lot of time educating his clients to help them understand trading strategies and trading techniques while enjoying spending quality time with customers going over the markets or just talking general trading philosophies.

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