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Precious Metals Are as Choppy as the Karate Kid


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.

>>Read More: IBM Unveils 'Watson' Technology for Enterprise

>>Read More: Tim Geither's New Book 'Stress Test' Comes Under Fire

>>Read More: IBM CEO Rometty Reaches for the Cloud

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.

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