Platinum price is increasing 1.1%

Fast Moving Market - 16/12/2024

16 December, 2024

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 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.

NEWS: Platinum price is increasing 1.1% following Unemployment and Manufacturing data from China which came in line with expectations

Possible Scenarios:

If Platinum fails to breach through R1 of 942.72, our Research Department expects the Platinum to undergo a short- term downward correction.

If Platinum manages to break above its R1 of 942.72, our Research Department expects the Platinum to extend its gains to its R2 of 956.68.

Support and Resistance Levels:

Platinum	S3	S2	S1	Reference Price	R1	R2	R3
Platinum	877.56	891.52	905.48	924.10	942.72	956.68	970.64

Potential Profit or Potential Loss Calculations:

1 dollar per 1 trading lot*	USD	EUR**	GBP***
1 dollar per 1 trading lot*	(+/-) $100	(+/-) €95.25	(+/-) £79.02

*1 trading lot is equivalent of 100 units
**EUR/USD = 1.04981
***GBP/USD = 1.26545
Calculations for exchange rate used as of Monday, December 16, 2024, 12:55 GMT

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