NEWS: Platinum price is falling 2.9%. Platinum prices are falling as recession fears continue to weigh on the metal.
Possible Scenarios:
If Platinum fails to breach through S2 of 965.01, our Research Department expects the Platinum to undergo a short- term upward correction.
If Platinum manages to break below its S2 of 965.01, our Research Department expects the Platinum to extend its losses to its S3 of 952.5.
Support and Resistance Levels:
Platinum |
S3 |
S2 |
S1 |
Reference Price |
R1 |
R2 |
R3 |
952.50 |
965.01 |
977.52 |
994.20 |
1010.88 |
1023.39 |
1035.90 |
Potential Profit or Potential Loss Calculations:
1 dollar per 1 trading lot* |
USD |
EUR** |
GBP*** |
||
(+/-) $100 |
(+/-) €94.1 |
(+/-) £82.36 |
*1 trading lot is equivalent of 100 units
**EUR/USD = 1.06276
***GBP/USD = 1.21422
Calculations for exchange rate used as of Friday, March 17, 2023, GMT 14:30h