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- Selling exhaustion in Platinum is imminent – TDS
Selling exhaustion in Platinum is imminent – TDS
Commodity Trading Advisors (CTAs) are now set to buy Platinum in most scenarios for prices over the coming week, marking yet another whipsaw in trend follower positioning, Senior Commodity Strategist Daniel Ghali notes.
Little scope for additional outflows from speculators
“While we expect some algo selling activity this session, there is little scope for additional outflows from speculators with signs of a short covering trend from discretionary traders, who have built a modest net short position over the last few weeks.”
“Selling exhaustion from CTA trend followers may well be setting the stage for local lows to form.”
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