Platinum sent a technically bearish signal today in the form of an outside bar down on the daily chart to close at $1520.60 down $16.40. The support at $1550 didn’t hold so now the $1500 level has to hold or the bears will completely take over. The fundamentals are weak. Technical factors can’t rule the market for very long. If gold breaks down the platinum bears will have a field day or even a field month.

Patience, my friends.

Oct platinum $1,520.60, down $16.40; Range $1,514.50-$1,554.90

Sep palladium $464.70, down $5.90; Range $461.00-$482.30

Dec gold $1,199.20, up $1.20; Range $1,194.20-$1,210.20

Sep silver $17.902, down 25.6 cents; Range $17.795-$18.355