CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 77% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 76% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.
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Platinum is falling 4.17%

Fast Moving Market - 01/07/2022

01 July, 2022

The example below uses Contracts For Difference (CFDs). Calculations are only on the price of the specific instrument on the date below and calculations indicate a possible profit or loss. No representation or warranty is given as to the accuracy or completeness of this information, consequently any person acting on it does so entirely at their own risk.

NEWS: Platinum fell to its lowest rate since November 2020, as the industrial demand outlook for the metal came under pressure as the US economy is thought to be already in recession.

Possible Scenarios:

If Platinum fails to break below Support 2 of 858.66, our Research Department expects Platinum to undergo a short- term upward correction.

If Platinum manages to break below Support 2 of 858.66, our Research Department expects Platinum to extend its losses to its Support 3 of 853.24.


Support and Resistance Levels:

Platinum

S3

S2

S1

Reference Price

R1

R2

R3

853.24

858.66

864.08

871.30

878.52

883.94

889.36

Potential Profit or Potential Loss Calculations:

1 dollar 1 trading lot*

USD

EUR**

GBP***

(+/-)100$

(+/-)96.00€

(+/-)83.27£

* 1 trading lot is equivalent of 100 units
** EUR/USD = 1.04147
***GBP/USD= 1.20086
Calculations for exchange rate used as of 13:53 (GMT+1) 01/07/2022

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Risk Warning and Disclaimer: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 77% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Be Aware: You can lose all, but not more than the balance of your Trading Account. These products may not be suitable for all clients therefore ensure you understand the risks and seek independent advice. This material does not constitute an offer of, or solicitation for, a transaction in any financial instrument. Fortrade accepts no responsibility for any use that may be made of the information and for any consequences that result. No representation or warranty is given as to the accuracy or completeness of this information, consequently any person acting on it does so entirely at their own risk. See full risk warning

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