PLAT Platinum Monthly Chart; Oversold; Falling Wedge; Positive Divergence

Palladium and platinum were highlighted at the start of the year. Palladium was experiencing euphoric joy and popularity while platinum was shunned and ridiculed. The expectation was for a springtime-ish top in palladium, since the monthly chart was long and strong, while platinum was set up much more attractively on an intermediate and long-term basis going forward. Well, what is the story now? Spring begins next Wednesday, 3/20/19, the same day as the FOMC fireworks and Chairman Powell's song and dance presser.

For platinum, PLAT, the chart is set up with a nice falling wedge pattern and positive divergence. If you are investor looking for a place to hide out, or a money manager that simply wants to find opportunities that will hold up if the stock market collapses, look to platinum which will likely trade sideways to sideways higher this year into next. 

Platinum has a lot of sideways chop to it these days. As per the monthly chart above, price should stagger sideways with an upward bias all year long.

For palladium, the monthly chart hints at a pullback coming now in the short-term, then followed by another rally in palladium because of the long and strong MACD line on the monthly chart, which should then lead to a significant long-term top for palladium in the April-June time frame. On the other hand, platinum is the train leaving the station and riding towards greener pastures this year and next. Prudent traders should consider cycling their profits from palladium into platinum going forward. This information is for educational and entertainment purposes only. Do not invest based on anything you read or view here. Consult your financial advisor before making any investment decision.