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Platinum Daily Technical Analysis | 12 January 2018

2018-01-12 11:02 am | Resource: Technical Analysis Section | No Views : 302

We noted earlier that the platinum broke in USD is the sub-descending trend line and the palladium continued to rise until it breached the 953 and 972 areas and is now approaching the $ 1000 level.

Platinum Daily Technical Analysis | 12 January 2018

platinum is trading in a bullish direction on the 240-minute time frame and the simple moving average is trading in a bullish direction and is a very important support area for the commodity.
Momentum Relative Strength 14 The signs of weakness are still present and still dominate the index so far, although the index is trading in a bullish direction in formation, but it is unable to form new highs.
It is expected that, if the palladium crosses the $ 1000.93 level, it may target the areas of 1013.42, while in the case of a breach of $ 981.42, it might target $ 961.
Support: 872.53- 953.14- 918.84
Resistance: 1000.93- 1013.42 - 1047.27
Trend: Up

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