NEWS: Platinum price is falling -3.1%. Platinum, like other precious metals, is tumbling after the U.S. Federal Reserve hinted at higher interest rates earlier than had been previously expected.
Possible Scenarios:
If Platinum fails to breach through S2 of 1081.04, our Research Department expects the Platinum to undergo a short-term upward correction.
If Platinum manages to break below its S2 of 1081.04, our Research Department expects the Platinum to extend its losses to its S3 of 1071.15.
Support and Resistance Levels:
Platinum |
S3 |
S2 |
S1 |
Reference Price |
R1 |
R2 |
R3 |
1071.15 |
1081.04 |
1090.92 |
1104.10 |
1117.28 |
1127.16 |
1137.05 |
Potential Profit or Potential Loss Calculations:
10 cents per 1 trading lot* |
USD |
EUR** |
GBP*** |
||
(+/-) $100 |
(+/-) €83.79 |
(+/-) £71.66 |
*1 trading lot is equivalent of 100 units
**EUR/USD = 1.19352
***GBP/USD = 1.39548
Calculations for exchange rate used as of 12:54 (GMT+1) 17/06/2021