NEWS: Platinum price decreased 1.9%. Platinum is falling as recession fears increase, ultimately cooling demand for the industrial commodity.
Possible Scenarios:
If Platinum fails to breach through S2 of 882.43, our Research Department expects the Platinum to undergo a short- term upward correction.
If Platinum manages to break below its S2 of 882.43, our Research Department expects the Platinum to extend its losses to its S3 of 877.04
Support and Resistance Levels:
Platinum |
S3 |
S2 |
S1 |
Reference Price |
R1 |
R2 |
R3 |
877.04 |
882.43 |
887.81 |
895.00 |
902.19 |
907.57 |
912.96 |
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 = 1.05655
***GBP/USD = 1.22951
Calculations for exchange rate used as of 15:25 (GMT+1) 27/6/2022