Chart of the day - Platinum (11.03.2021)

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Precious metals continue recovery. Platinum halted declines last week and strong rebound can be spotted this week. Precious metal gained 2.25% yesterday and is gaining another 1.7% today. Taking a look at the chart from a technical point of view, we can see that key support at $1,130 has been defended. The area is marked with the lower limit of the Overbalance structure, 50 SMA and previous price reactions. According to classic technical analysis, an upward move towards recent local highs at $1,310 may be on the cards now.

PLATINUM at D1 interval. Source: xStation5

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Commodities

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