Platinum: Inverse Head and Shoulders

The Platinum market has been under pressure and has seen some strong selling from the April highs at 1148.9. With the potential supply surge in the palladium market, there are stronger concerns that Platinum will be dragged down as well. On the technical side, we are seeing a nice inverse head and shoulders that would indicate prices shifting to the upside, and there is strong trendline support going back to the August '22 lows. For the bulls to take control of this market, we would need to see some strong buying near this critical support level, or we can see prices sharply lower with the overall supply concerns.