Platinum – Buy on declines
04 March 2021
Platinum has been trading in a higher top higher bottom formation on the daily as well as the weekly charts suggesting the trend to be bullish in the near and the medium term. Further it also stands at the 61.8% Fibonacci support of the rise experienced since 28th January to 16th February indicating that a near term bottom could be formed near current levels. It is likely that Platinum could rise towards $1,200 and $1,235 while it sustains above $1,125.
Prepared by
Technical Analysis Team
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