On the charts, platinum has a mixed, but improving technical profile. Intermediate trend is neutral. However, platinum bottomed in mid-December at $1,311.70 (U.S.) and recently moved above its 20- and 50-day moving averages. Last week, platinum started to outperform equity benchmarks, including the S&P 500 index and S&P/TSX composite index, and its intermediate downtrend was broken. A move above $1,481.30 will establish an intermediate uptrend.
Story continues below advertisement