Platinum (PPLT) slid 0.54% and is really glued to the moving average cluster near $1,430.
Platinum is building a large triangle. Within a month or six weeks we should see it resolved.
As always, platinum will follow gold and silver. So until they can get moving a bit, platinum will likely remain pretty rangebound between the upper and lower levels of this triangle.
Palladium (PALL) lost 1.23% over the last week, but it does remain in a nice uptrend.
As long as we can hold this uptrend channel, things are fine. But this chart is nothing special to me.
All in all it's a time to wait and see how things play out. Save your cash for the easy money to return and you'll be a step ahead of so many people who constantly have to trade, to their own detriment.
Thank you for reading. You can find out more about what I do for members at http://wizzentrading.com. Thank you for reading.
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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.