Platinum (PPLT) follows gold, it's as simple as that. And so platinum fell 2.83% last week, as gold began to break down.
While I really liked the chart in platinum last week and it wanted to go higher, I always warn that if gold breaks, so will platinum. If we can't hold the 100 day moving average here now, we will head to $1,390. We will cross that bridge when we come to it.
The break of the uptrend channel could have been shorted but I avoided it. We could be in for a major move lower.
What about palladium?