Aha, I see that gold is going up now also. Missed it as I was posting about the oil sector.
I think palladium is looking much stronger than platinum. It's moving higher now also.
Platinum's challenge wont dissipate until above the 1020 area as the last vpoc vestige and we should see strong momo thru there otherwise we'll probably see a very wide trading range over the next couple/five years, which is fine if the construct can be nailed down as it prints
putting aside the obvious games and thin trade (which allows thin trades to get whipped)
i think this simple view makes the whole game look different:
https://www.tradingview.com/x/BLlQbAPr/
both xauusd (GC) and palladium (PL) are in small upward channels
palladium looks on track for 2200-2290's
palladium channel
https://www.tradingview.com/x/ptvPr4wI/
xauusd channel
https://www.tradingview.com/x/j1EFi7EV/
the difference for mine between xauusd/palladium channels is: impulsive gold, corrective palladium,
from a trend point of view, gold is not in a distribution climb but the mess that is PL is clearly not impulsive, sure it can take off but more likely trudge uphill and be convincing enough the bull is still raging and COT report suggests commercials are keen to keep the price level slopping around where it is
the major challenge with PA/PL is the thin trade exagerates* moves, makes for more alerts!
also distorts the sentiment read with platinum regularly at 98% long both retail and top clients (much like silver at regular 96/98% longs)
*instant American dictionary(exagerate has one G not two, if it had two G's it would sound like the word egg, you muppets)