FX.co ★ Technical analysis of Platinum

Platinum (#PLF):

The chart shows the movement of platinum in the daily (D1) chart.

Last week, #PLF quotes fell to $795.0, the lowest record in 2 years. Now, it is below the cost of production, so it is likely that a new wave of growth will occur soon.

$818.0 is the current resistance level, and the breakdown of it will lead to an increase to $865.0. But on the way, investors need to overcome another important barrier, that is, the resistance level of $835.0.

If investors also fail to pass the resistance level of $818.0, platinum will remain trading in a narrow range, most likely near $25 and within the range of the yellow rectangle.

Good luck!