Price of Platinum may rise to the level of 1180.0

By | May 20, 2015

Earlier this week, it has been published quarterly report on supply and demand of platinum from the World Platinum Investment Council. According to the data, in Q1 2015 the proposal was reduced to 1.34%. But the demand showed an increase of 5%. Net demand for platinum rose to 160 thousand. 45 thousand ounces. In Q4 2014.

Platinum deficit for 2015 will be maintained, which is able to push up the quotations of precious metals. In addition, metal prices are now at a low enough level that does not contribute to an increase in production. Against this background, in the medium term, the metal looks very interesting for shopping.

platinum price chart
Platinum chart

 Trading analytics

Support and resistance levels  
Support 1    1120,0
Support 2    1086,0
Current price:   1052,4
Resistance 1    1178,0
Resistance 2    1200,0

Platinum (>PL)   –   buy platinum   –   Buy when prices rebound from the level of 1120.0. The goal – 1178.0 and 1200.0. Stop-Loss = 1086,0.

Warning: Profitability in the past does not mean profitability in the future. Any projections are for informational purposes and do not guarantee the results obtained.

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