$Sibanye(SBSW)$ I have shared this before... in December, I think... if you have followed my post, you will know how I get here. I mentioned that I have spotted a likely cup and handle setup before I entered the call options trade while correction was taking place around $10+. The handle was confirmed and the price shot passed $11 in no time. I was hoping to use pure profit from the trade to exercise the call but the price run was too slow. Nevertheless, I still topped up to exercise the call options since the price action was on track to hit my $20 target. 

I must say that the trade has gone to script and it has been a smooth journey thus far. Sibanye is a play on precious metals group, especially platinum and palladium, which have played second fiddle to the gold-silver trade. As I was confident of the on-going gold-silver tag team, I know this platinum-palladium tag team catching up is only a matter of time, rather than a"if" it will happen.

Platinum has since overcame its previous high and it is now up to palladium to catch its previous high! I am quietly confident that will happen as well, and Sibanye's next leg up is just another matter of time.

A note of caution here. Weekly chart below shown a resistance coming up around $20.64. A correction might be likely. However, another bigger cup and handle pattern is also forming there. If the pattern is successful, a big $17 run is on the horizon! It will be interesting to see how this plays out... will you be joining me in the ride? If keen, wait for possible handle pullback to confirm before taking up a new position would be my advice. Every long rally needs a break before its next long run...

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