April platinum settled down $57.00 today at $1786.30.  It has clearly breached a 3-month intermediate trend support line at about $1800.  If it doesn’t get back above $1800 the next support level is $1760.  With gold and especially silver rallying like mad today’s session seems like a gold-to-platinum ratio adjustment.  If gold can hold on to $1400 the rally could continue.  I’m expecting a sharp but short-lived correction in gold, which has already started in platinum. 

Look at any dips to lower prices as buying opportunities.  In April gold $1380 is pivotal while the buying opportunity in April platinum is right here.  $1760 would be even better.

Apr platinum $1,786.30, down $57.00; Range $1,785.60-$1,858.00

Mar palladium $805.70, down $52.00; Range $799.30-$861.45

Apr gold $1,401.10, up $12.50; Range $1,390.10-$1,411.50

Mar silver $32.862, up 56.6 cents; Range $32.390-$34.330