NEWS: Platinum price increased 1.0%. Platinum prices are rising sharply on the back of recent US dollar weakness.
Possible Scenarios:
If Platinum fails to breach through R2 of 956.23, our Research Department expects the Platinum to undergo a short- term downward correction.
If Platinum manages to break above its R2 of 956.23, our Research Department expects the Platinum to extend its gains to its R3 of 963.18.
Support and Resistance Levels:
Platinum |
S3 |
S2 |
S1 |
Reference Price |
R1 |
R2 |
R3 |
916.82 |
923.77 |
930.73 |
940.00 |
949.27 |
956.23 |
963.18 |
Potential Profit or Potential Loss Calculations:
1 dollar per 1 trading lot* |
USD |
EUR** |
GBP*** |
||
(+/-) $100 |
(+/-) €92.37 |
(+/-) £79.21 |
*1 trading lot is equivalent of 100 units
**EUR/USD = 1.08265
***GBP/USD = 1.26246
Calculations for exchange rate used as of Monday, April 8, 2024, GMT+1 10:45h