Crude and platinum rally on technicals and fundamentals

 Technically, we show significant support at the $1400 level. If this fundamental supply situation continues, coupled with more liquidity being thrown at the European financial system, we could see platinum continue to rise. Platinum has broken a key weekly downtrend (see weekly chart below). The next major upside target for the October contract at $1620.

 

About the Author
Anthony Lazzara

Anthony Lazzara, CEO of Newport Beach, Calif., commodities investment firm Lido Isle Advisors, spent 10 years as a trader and floor broker at the Chicago Board of Trade and Chicago Mercantile Exchange. Anthony has significant experience in the energy, fixed income, and equity futures markets. After being a long-time independent futures trader, Anthony saw a tremendous opportunity to educate investors on how to invest in professional traders. Anthony is now focused on his duty as CEO of Lido Isle Advisors.

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