Although platinum is considered a safe haven, it also thrives in a productive economy.
This gives it a great chance to do well during 2017, as people will turn to precious metals during times of uncertainty (which there will be a lot of in 2017), and with Trump wanting to spend like crazy on industrials (emissions control amongst other uses), this could propel platinum.
We also received a bullish car sales report today, as an increase in car sales means more catalytic converters will need to be built, which requires platinum.
There is also bearish divergence in the RSI.
This gives it a great chance to do well during 2017, as people will turn to precious metals during times of uncertainty (which there will be a lot of in 2017), and with Trump wanting to spend like crazy on industrials (emissions control amongst other uses), this could propel platinum.
We also received a bullish car sales report today, as an increase in car sales means more catalytic converters will need to be built, which requires platinum.
There is also bearish divergence in the RSI.
I will watch the action around that area closely to determine a breakout or retrace.