Pre-Market
Relative Sector Analysis
Below is a relative chart which highlights the performance of equally-weighted gold miners and equally-weighted platinum miners. Worth noting is the following: (1) the ratio trading at a key inflection point i.e. the upper boundary of a multi-year parallel channel (2) the development of a rising wedge where the latter stages of the structure is in line with the aforementioned parallel channel (3) the ration being in the (very) early stages of a potential loss momentum which is denoted by the 14-day RSI printing lower highs while the ration continues to print higher highs. Bottom Line: The inflection point, along with the technical 'signals' may be presenting range for medium term traders to switch out of gold miners and into platinum miners on a relative basis.
Lester Davids
Analyst: Unum Capital
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