NEWS: Platinum price increased 3.1%. Platinum prices are moving higher ahead of tomorrow’s U.S. Federal Reserve interest rate decision. Platinum has dual personalities. It is both a precious metal like Gold and an industrial metal like palladium.
Possible Scenarios:
If Platinum fails to breach through R1 of 936.27, our Research Department expects the Platinum to undergo a short-term downward correction.
If Platinum manages to break above its R1 of 936.27, our Research Department expects the Platinum to extend its gains to its R2 of 944.73.
Support and Resistance Levels:
Platinum |
S3 |
S2 |
S1 |
Reference Price |
R1 |
R2 |
R3 |
896.81 |
905.27 |
913.73 |
925.00 |
936.27 |
944.73 |
953.19 |
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 = 1.17300
***GBP/USD = 1.36580
Calculations for exchange rate used as of 14:33 (GMT+1) 21/09/2021