Might seem a bit optimistic, but it's clear that Platinum has broken out of its 10 year downward-sideways triangle range...
Fundamentally this is due to a number of factors:
Reason #1: Supply is dropping mainly in Russia and South Africa
~ Impala is cutting over 13,000 jobs '
~ Shafts are reducing from 11 to six
~ Lonmin is cutting over 5,270 jobs
Reason #2: Demand is pumping
~ Platinum demand has picked up over 660,000 ounces compared to last year
~ Impala platinum is paying dividends
~ Platinum companies are considering fund acquisitions and share buy backs.
Reason #3: Crucial $780 is dirt cheap and buying is picking up pushing the price up...
Thoughts?
Will update as things progress, I do see a number of platinum companies lining up breakout patterns,
Fundamentally this is due to a number of factors:
Reason #1: Supply is dropping mainly in Russia and South Africa
~ Impala is cutting over 13,000 jobs '
~ Shafts are reducing from 11 to six
~ Lonmin is cutting over 5,270 jobs
Reason #2: Demand is pumping
~ Platinum demand has picked up over 660,000 ounces compared to last year
~ Impala platinum is paying dividends
~ Platinum companies are considering fund acquisitions and share buy backs.
Reason #3: Crucial $780 is dirt cheap and buying is picking up pushing the price up...
Thoughts?
Will update as things progress, I do see a number of platinum companies lining up breakout patterns,
✅ Facebook:
www.facebook.com/groups/matitrader
🌐Website:
www.timonandmati.com
💰FREE Discord:
discord.gg/c8f37kyv35
Twitter:
twitter.com/timonr
Trade Well,
Timon Rossolimos
Founder, MATI Trader
(Pro trader since 2003)
www.facebook.com/groups/matitrader
🌐Website:
www.timonandmati.com
💰FREE Discord:
discord.gg/c8f37kyv35
Twitter:
twitter.com/timonr
Trade Well,
Timon Rossolimos
Founder, MATI Trader
(Pro trader since 2003)