According to veteran trader Peter Brandt
Veteran trader Peter Brandt, one of the leading traders in the financial markets known for his precise technical analyses, expressed strong positive expectations for one of the precious metals, considering that precious metals in general will see significant increases in the long term, despite entering the "blow-off tops" phase.
According to Brandt, who has more than 835,000 followers on X platform, palladium is the metal that will go "much higher," either from its current level or after a potential pullback towards the $1650-1700 per ounce range. Palladium may see more consecutive increases, but it could first decline by more than 17% from its current value of around $1768 per ounce (down over 6% on the trading day).
As for other precious metals, Brandt noted that they have entered a phase of explosive peaks, making it impossible to determine the exact peak, and advised against trying to short-sell at these peaks. He explained that these peaks can extend price-wise for long distances, but they are approaching time-wise a medium-term peak.
Brandt stated in his remarks:
"Precious metals (PMs) have entered explosive peaks. It is impossible to identify the peak in an explosive peak, and never try to short-sell at the peak. Explosive peaks can extend price-wise for long distances, but we are time-wise close to a medium-term peak... I am not saying this is the peak or the peak forever. Only naive beginners will understand my words this way... I believe that precious metals will go much higher, but there are many overly optimistic people at high prices who think they have understood everything."
He pointed out that platinum may be on the verge of a correction after a significant breakout, as it was trading at $2265 per ounce (down more than 1% on the day).
Brandt confirmed that precious metals will see significant increases in the long term, warning against excessive confidence among some optimists.
Additionally, Brandt warned of a potential deep correction in Bitcoin based on previous cycles, expecting the next bull market peak to reach its height in September 2029.
