Platinum (PPLT) gained 0.61% and held support at $1,400 on strong volume.
We have a powerful two-day bar combo that tells me the chances of Monday being a nice up day are quite high.
$1,430 is a buy level for platinum, and ideally gold and silver should be breaking out as well since they do lead.Palladium (PALL) gained a nice 1.68% last week and looks great for higher prices Monday. Last weekend I thought palladium was a nice looking short trade, since it had some catching up to do to the other metals. But it never came to be, as gold and silver held crucial support. We have a nice two-bar combo. That tells me we are going higher right now, as we are closing on resistance at $810. Palladium will be near highs at $850 in no time, from what I can see in this and the other metals charts. What a change a week can make! That's what makes this trading game so exciting. Please do check out the members section of my site and thank you for reading. At the time of publication, the author held no positions in any of the stocks mentioned. This article represents the opinion of a contributor and not necessarily that of TheStreet or its editorial staff.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV