Bullish Pressures May Continue for Platinum
Burc Oran
January 6, 2021
Daily news update image for financial markets showing key market trends and analysis
XPTUSD Weekly Chart
XPTUSD Weekly Chart

Platinum is continuing its advance over the key 1045 level. Increasing inflation expectations and the possibility of a blue wave are adding bullish pressure. 1150-1200 zone will be an important resistance zone for medium-term moves.

XPTUSD Hourly Chart
XPTUSD Hourly Chart

In the shorter-term, an upward trend has formed since the middle of November. As long as this trend holds bullish pressures may continue. 1045-1050 support zone is still strong.

For downward moves, below the 1045-1050 support zone, the 1000 – 950 levels can be followed as support.

Stay informed with market news by subscribing to our reading list.

This field is for validation purposes and should be left unchanged.

FTD Articles is a website prepared by FTD Limited's research team. FTD Limited is an online brokerage company offering products of Forex, Spot Metals and CFDs.
The ideas and the information shown here have no responsibility of any of the trading decisions made by the investors or the visitors of this site. Therefore, under no circumstances will FTD Limited nor FTD Articles be held responsible or liable in any way for any claims, damages, losses, costs or liabilities resulting or arising directly or indirectly from the use of website content. We recommend that you seek advice if you have not involved with trading before in order to prevent potential risks that may arise.

Pro Forex Analysis

Follow our Channels