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Platinum is heading to a critical support zone
Platinum futures have taken a massive drop over the last few weeks (weekly chart below). The price has broken back through the $1000/oz area to trade at $950/oz in the European session today. The price is coming up to a big support area at the moment as the volume point of control marked in red is nearby. This area marks the point on the chart where most contracts changed hands. There is another support area just below that is marked by the green shaded area. This point has been tested nine times on the chart and is close to the psychosocial $900/oz level. On the volume histogram, there is a point marked that ... (full story)