We are at a crucial point for i stock markets. There are two elements against a rise: the cyclicality between September and October and the probabilities dictated by the historical series for the period August 2021 / July 2022. Next week will be decisive after the rise in recent days. Dead cat or lasting bullish reversal? We will follow the events from day to day at our point on the markets. At the currency level, we continue to see the dollar strengthen against the euro and the yen. Meanwhile in the commodities sector, we continue to see the strength of oil and the weakness of gold. Today, our Research Department explores another topic: is this the right time to buy palladium and platinum?
Will the decline of these two commodities, which began several weeks ago, continue or are we close to a bullish reversal? What could be the short and medium-long term dangers? What are the strengths and levels to monitor to see new rises?
Let’s get to the heart of the topic and briefly indicate the current trend and how to regulate to open upward positions or keep them still down.
Is this the right time to buy palladium and platinum?
Palladio, last price a 1.953. Since the beginning of the year it has marked the minimum at 1,827.5 and the maximum 3,035.5. Until there is a daily and then weekly close above 2.495.5, prices could continue to fall in a few weeks towards the area of 1.600 / 1.450. In the short term, a first bullish indication could form following a daily close above 2.067.
Platinum, last price at 981.5. Since the beginning of the year it has marked the minimum at 893 and the maximum at 1,353.1. Until there is a daily and then weekly close above 1.065.9, prices could continue to fall in a few weeks towards the 842 area. In the short term, a first bullish indication could form following a close. daily higher than 1,011.
