NEWS: Platinum price increased 1.2% after decline in global supplies.
Possible Scenarios:
if Platinum fails to breach through R2 of 1041.31, our Research Department expects the Platinum to undergo a short- term downward correction.
If Platinum manages to break above its R2 of 1041.31, our Research Department expects the Platinum to extend its gains to its R3 of 1046.8.
Support and Resistance Levels:
Platinum |
S3 |
S2 |
S1 |
Reference Price |
R1 |
R2 |
R3 |
1010.20 |
1015.69 |
1021.18 |
1028.50 |
1035.82 |
1041.31 |
1046.80 |
Potential Profit or Potential Loss Calculations:
10 cents per 1 trading lot* |
USD |
EUR** |
GBP*** |
||
(+/-) $100 |
(+/-) €85.1 |
(+/-) £73.01 |
*1 trading lot is equivalent of 100 units
**EUR/USD = 1.03397
***GBP/USD = 1.19962
Calculations for exchange rate used as of 14:35 (GMT) 30/11/2022