PLATINUM PRICE TECHNICAL ANALYSIS
Platinum Price Struggling Back Platinum Spot price was at $1,160.50 an ounce at 1340 GMT last Friday
Platinum producers struggling back from South Africa’s longest-ever mining strike are now contending with threats to a long-awaited price recovery more than that Recycling today represents more than a quarter of the platinum metals groups that come to market — ranking as the second largest source of supply behind mining. That percentage is expected to grow to more than one third by 2020
Also we can see investors are losing appetite for the metal. Platinum ETFs, popular investment vehicles which issue securities backed by physical metal, have reported their biggest monthly outflows since early 2010 this month.
Platinum xpt/usd price remains negative as last week the metal achieving negative close below 1180 levels main support previous level, therefore, the price below the current support level will take the negative momentum to achieve lower prices
Expected trading range price will go down to 1100 and 1080 areas
The trend is bearish we are going to see the lower bands at 1080-1100 if those levels will break down the next stop will be at 630 area
This review does not including any document and / or file attached to it as an advice or recommendation to buy / sell securities and / or other advice
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