NEWS: Platinum price increased 2.4% head of Chinese economic data this week.
Possible Scenarios:
If Platinum fails to breach through R2 of 989.15, our Research Department expects the Platinum to undergo a short- term downward correction.
If Platinum manages to break above its R2 of 989.15, our Research Department expects the Platinum to extend its gains to its R3 of 995.22.
Support and Resistance Levels:
Platinum |
S3 |
S2 |
S1 |
Reference Price |
R1 |
R2 |
R3 |
954.78 |
960.85 |
966.91 |
975.00 |
983.09 |
989.15 |
995.22 |
Potential Profit or Potential Loss Calculations:
1 dollar per 1 trading lot* |
USD |
EUR** |
GBP*** |
||
(+/-) $100 |
(+/-) €92.81 |
(+/-) £79.66 |
*1 trading lot is equivalent of 100 units
**EUR/USD = 1.07749
***GBP/USD = 1.25540
Calculations for exchange rate used as of Tuesday, May 7, 2024, 14:03 GMT+1