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Platinum Daily Technical Analysis | 4 January 2018

2018-01-04 11:23 am | Resource: Technical Analysis Section | No Views : 339

US Platinum broke through the sub-descending trend line during the second day of the new year. Currently the commodity is trading in a minor upside direction and is trying to breach 953.14 and failed for the first time and is currently retesting the $ 953 zones.

Platinum Daily Technical Analysis | 4 January 2018
The SMA is trading in a bullish direction.
Momentum RSI 14 signs of weakness are beginning to show where, the index is currently closing down the 70 areas as it breaks the rising trend line.
It is expected that if the palladium crosses the $ 953.14 level, it might target 945.69 zones on the other side. If the $ 908 breaks, the trend will be reversed and might target $ 881.21.
Support: 918.84- 903.11- 903.11
Resistance: 953.14- 966.10 - 977.91
Trend: Up

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