Platinum Rallies to New Heights: What's Next?
Platinum, the precious metal, has seen a remarkable surge in recent months, with prices soaring above the year's high of $1,338 USD by late June. The metal has since continued its rally, reaching new heights and drawing attention from investors worldwide.
On October 9, a webinar event titled 'lukrative Setup's aus Deutschland, Europa und den USA' was held on the 'Top3' website at 7 PM. The event, conducted in collaboration with Thomas May and Karsten Haesen from tradegate.direct, discussed the ongoing platinum rally and its potential future trajectory.
Analysts predict that with the recent increase above yesterday's high at $1,675 USD, the rally could extend to $1,750 USD, and even further to $1,792 USD. However, they also warn of resistance levels at $1,660, $1,750, and $1,792 that could hinder this progress.
Currently, platinum is approaching the next major price target at $1,660 USD. However, if the price retreats below the steep trendline at $1,610 USD, a brief correction to $1,575 USD could occur. Support levels are identified at $1,575, $1,517, and $1,479.
As of now, platinum is trading at $1,655.71/oz (JFD Brokers) and is reaching its next major price target. The rally of the last two months could continue, but it would only be considered ended if prices fall below $1,438 USD. Investors are advised to monitor these key levels and trends closely.
