NEWS: Platinum price is falling -1.4% after US Nonfarm Payrolls came in higher than expected, putting negative pressure on platinum.
Possible Scenarios:
If Platinum fails to breach through S2 of 1024.68, our Research Department expects the Platinum to undergo a short- term upward correction.
If Platinum manages to break below its S2 of 1024.68, our Research Department expects the Platinum to extend its losses to its S3 of 1017.51
Support and Resistance Levels:
Platinum |
S3 |
S2 |
S1 |
Reference Price |
R1 |
R2 |
R3 |
1017.51 |
1024.68 |
1031.84 |
1041.40 |
1050.96 |
1058.12 |
1065.29 |
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 = 1.05376
***GBP/USD = 1.22832
Calculations for exchange rate used as of 13:35 (GMT) 02/12/2022