The MACD on platinum’s daily bar chart is giving a sell signal:



Platinum prices and sentiment charged ahead and made a new high a week ago as gold tried to get its mojo back and failed. When the metals complex turned lower, platinum fell hardest, a cool 100 bucks in two days. All of this talk about cars in China is swell, except that they are the only growing auto market these days and even their debt bubble is bursting. And besides, that stuff isn’t tradable information anyway. The fact is, platinum may as well be gold most of the time, since the precious metals move together with a very high degree of correlation.

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