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?

If you liked this article you might like

Gold, Google, SEC Hack - 5 Things You Must Know Before the Market Opens Thursday

Here's the Hottest New Way to Get Rich With Gold

How to Invest in Unstoppable Gold Prices

Novice Trade: Gold ETF

Will Gold Make You 25,000% Richer Like Bitcoin?