8:38 AM · 11 February 2021

Chart of the day - PLATINUM (11.02.2021)

Platinum trades over 10% higher this week and has broken above the $1,250 handle today. Precious metal benefits from USD weakening this week and an improved outlook for the global economy as US stimulus draws near and Powell said that rates will remain at low levels. Platinum is quickly approaching resistance zone at $1,285, marked by a peak from the early-2015. Should the price break above it, the major next resistance to watch can be found at $1,515. In case we see a pullback, a major support zone can be found at $1,190.

Source: xStation5

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