Low risk buys for long-term players
Both platinum price and Implats approaching multi-year support levels
VERY OFTEN THE BEST WAY to understand extremely volatile periods in the market – such as we’ve seen in recent weeks – is to look at the really long-term charts to gain a bigger perspective. We’ll look at two monthly charts relating to the platinum sector to shed light not only on that metal but also related commodities as well, plus resources stocks. The first chart is the platinum price (US dollar) and the second is Impala Platinum, going back to 1998. The monthly charts show both the platinum price and Implats getting close to multi-year support levels and will soon become low risk buys for long-term players.
Please note: For more charts by the author on shares, indices and commodities please go to www. themarket.co.za.