January 17, 2025
NEWS: Platinum price is increasing 1.3% following better than expected GDP and industrial production data from China
Possible Scenarios:
If Platinum fails to breach through R2 of 954.70, our Research Department expects the Platinum to undergo a short- term downward correction.
If Platinum manages to break above its R2 of 954.70, our Research Department expects the Platinum to extend its gains to its R3 of 960.74.
Support and Resistance Levels:
|
Platinum |
S3 |
S2 |
S1 |
Reference Price |
R1 |
R2 |
R3 |
|
920.46 |
926.50 |
932.54 |
940.60 |
948.66 |
954.70 |
960.74 |
Potential Profit or Potential Loss Calculations:
|
1 dollar per 1 trading lot* |
USD |
EUR** |
GBP*** |
|
(+/-) $100 |
(+/-) €97.13 |
(+/-) £82.06 |
*1 trading lot is equivalent of 100 units
**EUR/USD = 1.02952
***GBP/USD = 1.21864
Calculations for exchange rate used as of Friday, January 17, 2025, 11:20 GMT
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