Platinum price increased 2.1%

Fast Moving Market - 22/03/2023

22 March, 2023

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 price increased 2.1% after the World Platinum Investment Council forecasted the platinum market to move into deficit this year. Demand for platinum is set to rise by 24%, with the automotive industry accounting for 10% due to increased platinum for palladium substitution and higher loadings.

Possible Scenarios:

if Platinum fails to breach through R2 of 1014.36, our Research Department expects the Platinum to undergo a short- term downward correction.

If Platinum manages to break above its R2 of 1014.36, our Research Department expects the Platinum to extend its gains to its R3 of 1028.92.

Support and Resistance Levels:

Platinum	S3	S2	S1	Reference Price	R1	R2	R3
Platinum	931.88	946.44	960.99	980.40	999.81	1014.36	1028.92

Potential Profit or Potential Loss Calculations:

1 dollar per 1 trading lot*			USD	EUR**	GBP***
1 dollar per 1 trading lot*			(+/-) $100	(+/-) €92.77	(+/-) £81.5

*1 trading lot is equivalent of 100 units
**EUR/USD = 1.07829
***GBP/USD = 1.22700
Calculations for exchange rate used as of Wednesday, March 22, 2023, 14:00: AM GMT

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