Platinum Weekly View for 11th September 2023

By: Admin
221400

Insignia Consultants

Monday, September 11, 2023

TIME 12:38 PM IST                       

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Platinum Weekly View for 11th September 2023

A long term bottom will be formed in Platinum in the next two weeks to four weeks, in my view. Demand side fundamentals should be positive on or from the fourth quarter.

Day traders, jobbers and very short term traders need to remain on the side-lines.

PLATINUM OCTOBER FUTURE (Current Market Price $904.75)

  1. Weekly Supports: $855.20, $876.10 and $894.00
  2. Weekly Resistances: $913.40, $934.40 and $974.00
  3. Platinum October can rise back to $934.40 and $974.00 this week as long as it trades over $883.00.
  4. Sell off will be there only if Platinum sees a sustained fall below $883.00 for the rest of September.
  5. Failure to break $934.40 this week can also result in a fall to $855.20. (this is just a technical view, in case there is a flash crash.)

Disclaimer: Any opinions as to the commentary, market information, and future direction of prices of specific currencies, metals and commodities reflect the views o the individual analyst, In no event shall Insignia Consultants or its employees have any liability for any losses incurred in connection with any decision made, action or inaction taken by any party in reliance upon the information provided in this material; or in any delays, inaccuracies, errors in, or omissions of Information. Nothing in this article is, or should be construed as, investment advice. All analyses used herein are subjective opinions of the author and should not be consider7ed as specific investment advice. Investors/Traders must consider all relevant risk factors including their own personal financial situation before trading. Prepared by Chintan Karnani Website www.insigniaconsultants.in.

Disclosure: Insignia consultants or it employees do not have any trading positions on the trading strategies mentioned above. Our clients do have positions on the trading strategies mentioned in the above report.

Insignia Consultants does not have any branches in India.

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NOTES TO THE ABOVE REPORT

ALL VIEWS ARE INTRADAY UNLESS OTHERWISE SPECIFIED

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PLEASE NOTE: HOLDS MEANS HOLDS ON DAILY CLOSING BASIS

PLEASE USE APPROPRIATE STOP LOSSES ON INTRA DAY TRADES TO LIMIT LOSSES.

THE TIME GIVEN IN THE REPORT IS THE TIME OF COMPLETION OF REPORT

ALL PRICES/QUOTES IN THIS REPORT ARE IN US DOLLAR UNLESS OTHERWISE SPECIFED.

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