NEWS:Platinum price increased 1.6% as US Treasury bond yields have weakened, weakening the US dollar.
Possible Scenarios:
If Platinum fails to breach through R2 of 1011.34, our Research Department expects the Platinum to undergo a short- term downward correction.
If Platinum manages to break above its R2 of 1011.34, our Research Department expects the Platinum to extend its gains to its R3 of 1016.2.
Support and Resistance Levels:
Platinum |
S3 |
S2 |
S1 |
Reference Price |
R1 |
R2 |
R3 |
983.80 |
988.66 |
993.52 |
1000.00 |
1006.48 |
1011.34 |
1016.20 |
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= 1.04540
***GBP/USD= 1.20786
Calculations for exchange rate used as of 13:45 (GMT) 28/11/2022