NEWS: Platinum is rising on prevailing optimism as the markets believe that China’s authorities will soon resolve the situation with the second largest property company in China, Evergrande.
Possible Scenarios:
If Platinum fails to break above Resistance 2 of 985.18, our Research Department expects Platinum to undergo a short-term downward correction.
If Platinum manages to break above Resistance 2 of 985.18, our Research Department expects Platinum to extend its gains to its Resistance 3 of 993.36.
Support and Resistance Levels:
Platinum |
S3 |
S2 |
S1 |
Reference Price |
R1 |
R2 |
R3 |
938.84 |
947.02 |
955.20 |
966.10 |
977.00 |
985.18 |
993.36 |
Potential Profit or Potential Loss Calculations:
1 dollar per 1 trading lot* |
USD |
EUR** |
GBP*** |
(+/-)117.10$ |
(+/-)100€ |
(+/-)85.73£ |
* 1 trading lot is equivalent of 100 units
** EUR/USD = 1.17260
*** GBP/USD = 1.36179
Calculations for exchange rate used as of 14:40 (GMT+1) 22/09/2021