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Rhodium Favorable Technical Conditions

Commodities / Metals & Mining Jul 05, 2010 - 09:45 AM GMT

By: Ned_W_Schmidt

Commodities

One aspect of Rhodium makes it of special interest, which arises from being the rarest metal. No one seems to be looking for it. If, when looking for something else, Rhodium is found, it is harvested. The rarity of the metal apparently precludes it from existing in sufficient quantity to justify the quest for it. The Rhodium play you are seeking is Rhodium itself.


Our first observation is that Rh has traded down in excessive fashion during this period of fear over economic growth due to the EU debt problems. It has moved to a price where it has found support twice before this year. Is this a price where the metal is attractive to users?

At this time, Rh demonstrates two favorable technical conditions. In the top chart Rh has moved through the down trend line drawn on the absolute price of the metal. Alone that event would be encouraging. That means the down trend is no longer dominant, and that somewhere out there buyers exist.

In the second chart it is doing the same  on a measure of relative strength. That chart is of the ratio of price of $Rh to $Au. That ratio has moved through the down trend line.

So, we have favorable technical developments on both an absolute and relative basis. Given that situation and the likelihood that Rh is under valued, investors should consider diversifying their precious metal holdings with Rh. If you have a substantial investment in Au, now is perhaps the time to add some Rh.

$Rh Preliminary Price Valuation Range

Rh Current Valuation $Valuation Potential % Change
$2,430 Over $7,500 209%
$2,430 Fair $6,000 147%
$2,430 Under $4,500 85%

Next publication date: 13 July 2010

By Ned W Schmidt CFA, CEBS

RHODIUM TRADING THOUGHTS is published presently on an irregular basis, and is available only at our web site: www.valueviewgoldreport.com

To receive THE VALUE VIEW GOLD REPORT click on a link at bottom of one of pages, or send check(US$149) or credit card information to: Schmidt Management Company, 13364 Beach Blvd. Suite 812, Jacksonville FL 32224. Fax orders can be sent to 215-243-7161. Our phone number to place an order is 352-409-1785.  Subscriptions cannot be cancelled or refunded.

Copyright © 2010 Ned W. Schmidt - All Rights Reserved

Ned W Schmidt Archive

© 2005-2019 http://www.MarketOracle.co.uk - The Market Oracle is a FREE Daily Financial Markets Analysis & Forecasting online publication.


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