Palladium & Platinum

How about those PGMs?

There are some commodities I struggle with (e.g. crude oil, because I am hype and politics averse) and others I do well with. Palladium and hopefully Platinum are in the second category so far in 2022.

We had an NFTRH+ update on Palladium on Jan. 7, noting the long-term support that Pd had tested after we’d had it on watch for that test for many months prior. This daily chart shows that support area. I bought and had a nice trade in Pd but took the profit. The most recent buy was per the Feb. 24 Trade Log after profit was taken on PGM producer SBSW as Palladium banged support.

palladium

The 2468 +/- area is now short-term support needed to keep the rally going. I really like daily RSI and MACD, which are each positive but due to said pullback are not overbought. RSI is nesting on its EMA 20 and MACD is triggered up. I hold Pd and Ag in roughly equal amounts and…

palladium futures

…Pt in roughly half the amount of the other two. Platinum tested a key short-term support area over the last few days and held its modest uptrend channel. RSI and MACD are not nearly as nice, but I felt it was worth a spec at support, per the Feb. 28 Trade Log…

platinum

platinum futures

Unfortunately, we have war and hype wrapped up in the commodity space and we’re just gonna have to live with it, interpreting what’s working and what isn’t… and why. So far, Palladium is working and Platinum is trying to.

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