Platinum sellout is imminent – TDS

Commodity Trading Advisors (CTAs) are now poised to buy platinum in most price scenarios next week, marking yet another breakout in trend-follower positioning, notes Senior Commodity Strategist Daniel Ghali.

Low margins for additional exits from speculators

“While we expect some algorithmic selling activity this session, there is little scope for additional exits from speculators with signs of a short-covering trend from discretionary traders who have built a modest net short position in recent weeks.”

“Selling exhaustion from CTA trend followers may be setting the stage for local lows to form.”