Comment: Hesitating under the $850.00 area, as expected, in what might be an A, B, C-type correction that also forms a ‘triangle’. This consolidation period has seen the RSI drop from terribly overbought to almost oversold and allowed the Lagging Span to catch up with price action. Over the last three months drops to the $700.00 area have formed ‘hammer’ candles suggesting prices are trying to use this point as a platform for another lunge higher, maybe helped by the weekly candles supporting the Lagging Span. A weekly close above $800.00 and a monthly one above $850.00 ought to be the next triggers, with measured targets at the psychological $1,000.00 and probably the record high at $1,095.00 of January 2001. Note that other PGM’s while expensive are also holding up well.


A weekly close below $675.00 would force us to adjust and maybe review.