NEWS: Platinum price is falling -1.4%. Platinum is falling as global recession fears continue, lowering demand for the industrial commodity.
Possible Scenarios:
If Platinum fails to breach through S1 of 862.78, our Research Department expects the Platinum to undergo a short- term upward correction.
If Platinum manages to break below its S1 of 862.78, our Research Department expects the Platinum to extend its losses to its S2 of 857.36
Support and Resistance Levels:
Platinum |
S3 |
S2 |
S1 |
Reference Price |
R1 |
R2 |
R3 |
851.94 |
857.36 |
862.78 |
870.00 |
877.22 |
882.64 |
888.06 |
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 = 1.04460
***GBP/USD = 1.21095
Calculations for exchange rate used as of 10:00(GMT+1) 01/7/2022