🔽 Platinum drops over 3% 💿

12:48 PM January 22, 2021

📉 Platinum is the worst performing commodity during final trading day of the week

Risk-off moods can be spotted on the global markets on the final trading day of the week. Both equities and commodities are pulling back. Interestingly, declines can also be spotted on the precious metals market, where precious metals with industrial use are the worst performers. Silver is moving 2.5% lower while platinum drops around 3.5%. Platinum price has reached $1,150 area yesterday but bulls were unable to push the price higher. A long upper wick has been painted and recent price patterns hint that reversal may be underway. Key support zone to watch can be found near the $1,000 area, at 23.6% retracement.

Source: xStation5

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