Platinum has experienced a strong breakout in the first half of February after which it touched a high of $1,337 on 16th February, since then it has experienced a correction and is currently trading near $1,245. Further it is near the 38.2% retracement support of the rally experienced from 28th January to 16th February, suggesting a rebound is likely from current levels. It would be prudent to say that Platinum could rise towards $1,285 and $1,320 while it sustains above $1,200.
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Risk Disclaimer:
Trading Forex or any CFD products may not be suitable to all investors and they must evaluate their risk appetite. The above article should not be construed as a trading or investment advice as it is solely for education and information purpose only. Trading might incur a loss of capital and hence investors might be required to gain further knowledge regarding the risks involved. Leverage should be used wisely.
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