NEWS: Platinum price is increasing 1.3% following better than expected Chinese GDP Q1 data.
Possible Scenarios:
If Platinum fails to breach through R1 of 1004.05, our Research Department expects the Platinum to undergo a short- term downward correction.
If Platinum manages to break above its R1 of 1004.05, our Research Department expects the Platinum to extend its gains to its R2 of 1027.72.
Support and Resistance Levels:
Platinum |
S3 |
S2 |
S1 |
Reference Price |
R1 |
R2 |
R3 |
893.62 |
917.28 |
940.95 |
972.50 |
1004.05 |
1027.72 |
1051.38 |
Potential Profit or Potential Loss Calculations:
1 dollar per 1 trading lot* |
USD |
EUR** |
GBP*** |
(+/-) $100 |
(+/-) €88.02 |
(+/-) £75.35 |
*1 trading lot is equivalent of 100 units
**EUR/USD = 1.13605
***GBP/USD = 1.32718
Calculations for exchange rate used as of Wednesday, April 16, 2025, 13:00 GMT+1