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Frank Petricca

Frank Petricca is writer of “Petricca’s Pick” focusing on a Long Term approach for commodity traders that have an interest in Long term accumulation. Frank has worldwide recognition spurring innovation that points to communicating a different way to approach ones investment portfolio using commodity instruments. Contact Frank at 312-690-7763.

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Petricca’s Pick 09/07/2023

By On September 7, 2023 - 11:14 AM · In Market Commentaries, Petricca’s Pick

PLATINUM UPDATE

 

My post dated August 29th, 2023 did indicate that major support for platinum futures is $9.00/$9.10.

(Platinum futures were trading $9.90 August 29th)

Today Platinum futures are trading $906.70 where Long-Term accumulation should be taken into consideration.

 

The correction is due to –

  • The U.S. Dollar rally. A new high was punched out today at $104.77 basis December.
  • Anticipated interest rate hike later this month.
  • Looming UAW strike.

Again, Platinum futures are in fact within my lower 25% parameter and the Long-Term trend is up.

While the short-term fundamentals are bearish, please refer to my August 29th post that will give you the Long-Term bullish scenario.

Please call me personally, 312-690-7763, for more information regarding my Long-Term Strategies.

Remember – It’s all about being Patient, Committed and Disciplined when one decides to make an investment of this nature.

 

In the meantime –

 

Have a great year trading –

 

Best wishes,

Frank

Questions? Ask Frank Petricca today at 312-690-7763.        
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