CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 72% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

Platinum

Market Opportunities - 12/04/2021

12 April, 2021

The example below uses Contracts For Difference (CFDs). Calculations are only on the price of the specific instrument on the date below and calculations indicate a possible opportunity for profit or loss. No representation or warranty is given as to the accuracy or completeness of this information, consequently any person acting on it does so entirely at their own risk.

Platinum weekly uptrend opportunity based On 1.00 Lot Calculation:

  • Platinum is mostly used in catalytic convertors by car industry to reduce harmful gas emission, while tightening regulation is forcing auto makers to put more of Platinum into each vehicle, which in turn could keep demand outlook positive.
  • CHINA IS THE LARGEST PLATINUM AND PALLADIUM CONSUMER IN THE WORLD WHICH COVERS ONE THIRD OF GLOBAL AUTOMOTIVE PRODUCTION: Recent data showed that the Chinese economy has continued to recover along with its car industry, which is one of the largest consumers of Palladium. China reported Q4 GDP growth rate of 6.5% year on year, beating expectations for a rate of 6.1%. That being said, the demand for Platinum may rise, which could support Palladium prices.
  • SUPPLY SHORTAGE:
    SOUTH AFRICA: Platinum supply is expected to stay lower as South Africa, the largest Platinum producer in the world, faces a new strain of the coronavirus, which forces some mines to close again. Miners like Anglo American Platinum work under capacity as well as Tharisa.
    RUSSIA: Operations at two of Nornickel’s largest mines, Oktyabrsky and Taimyrsky, were halted earlier this year due to flooding by natural groundwater. Nornickel said that platinum groups metals production is expected to miss its 2021 output guidance by 710,000 troy ounces.
  • PLATINUM FINDS USE IN EXPANDING ELECTRIC VEHICLE MARKETS (HYDROGEN FUEL CELL ELECTRIC VEHICLES). As the world moves from fossil fuels to zero-carbon energy, Platinum is also expected to rise in demand as it finds a crucial role in transforming hydrogen into electricity with hydrogen fuel cell technology, which is used by the electric vehicle markets to make green car engines.
  • ANALYST OPINION (UBS): The bank cut platinum mine supply estimate for 2021 by about 140,000 ounces, leading to a deficit of around 185,000 ounces and marking a third straight year of undersupply. According to UBS, Platinum may hit $1,300 per ounce this year.

Platinum, April 12, 2021
Current Price: 1183

Platinum

Weekly

Trend direction

UP

Resistance 3

1300

Resistance 2

1270

Resistance 1

1230

Support 1

1140

Support 2

1100

Support 3

1080

Example of calculation base on weekly trend direction for 1.00 Lot*

Platinum

Pivot Points

Resistance 3

Resistance 2

Resistance 1

Support 1

Support 2

Support 3

Profit or loss in $

11,700.00

8,700.00

4,700.00

-4,300.00

-8,300.00

-10,300.00

Profit or loss in €**

9,845.42

7,320.95

3,955.00

-3,618.40

-6,984.36

-8,667.33

Profit or loss in £**

8,515.90

6,332.34

3,420.92

-3,129.78

-6,041.20

-7,496.91

Profit or loss in C$**

14,691.22

10,924.24

5,901.60

-5,399.34

-10,421.98

-12,933.30

* 1.00 lot is equivalent of 100 units
** Calculations for exchange rate used as of 10:55 a.m. (GMT+1) 12/04/2021
Fortrade recommends the use of Stop-Loss and Take-Profit, please speak to your Client Manager regarding their use.
*** You may wish to consider closing your position in profit, even if it is lower than suggested one
**** Trailing stop technique can protect the profit – Ask your Client Manager for more details

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  • CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 72% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
  • CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. The vast majority of retail client accounts lose money when trading in CFDs. You should consider whether you understand how leveraged contracts work and whether you can afford to take the high risk of losing your money.