Platinum Price market analysis
From my last review at 10 .03. 2015:
platinum price struggling ….
“Platinum xpt/usd price remains negative as we are close to 1100 and 1080 levels main support previous level, therefore, the price below those current support level will take the negative momentum to achieve lower prices Expected trading range price will go down to see the lower bands at 630 area,but we need to see what will happen cause we can get bounce from those levels1080-1000 look closely .”
19.10.2105 update
Platinum price forecasts for 2016 lowered after third quarter plunge: poll
Prices have suffered from perceptions that supply remains plentiful, after a historic five-month miners’ strike in South Africa last year failed to push prices much higher.
Demand has also been lackluster this year, with weakness seen in Chinese platinum jewellery buying, which accounts for a fifth of global consumption.
From the Technical view the picture remains bearish:
look closely on the charts show us that We are in the period of price repairs
that’s mean that platinum could move higher price to 1060 area
if this level will Break up the next step could lead to 1080 area (This area is a points test)
resistance area face at 1080-1108, as long as platinum price remains below the trend is bearish and price should continue downwards
 |
| platinum |
 |
| xptusd |
This review does not including any document and / or file attached to it as an advice or recommendation to buy / sell securities and / or other advice