Platinum price is increasing 1.7%

Fast Moving Market - 17/12/2024

17 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 1.7% as it rises from its long term support level near 900

Possible Scenarios:

If Platinum fails to breach through R1 of 947.08, our Research Department expects the Platinum to undergo a short- term downward correction.

If Platinum manages to break above its R1 of 947.08, our Research Department expects the Platinum to extend its gains to its R2 of 959.36.

Support and Resistance Levels:

Platinum	S3	S2	S1	Reference Price	R1	R2	R3
Platinum	889.76	902.04	914.32	930.70	947.08	959.36	971.64

Potential Profit or Potential Loss Calculations:

1 dollar per 1 trading lot*	USD	EUR**	GBP***
1 dollar per 1 trading lot*	(+/-) $100	(+/-) €95.24	(+/-) £78.7

*1 trading lot is equivalent of 100 units
**EUR/USD=1.04998
***GBP/USD=1.27057
Calculations for exchange rate used as of Tuesday, December 17, 2024, 15:50 GMT

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