Platinum to rebound from the $1075/45 zone – Credit Suisse

Platinum is seen at risk to near-term weakness. Nonetheless, the longer-term uptrend remains intact, strategists at Credit Suisse report.

Platinum to suffer downside pressure in the short-term

“Platinum is under pressure near-term and below $1111 would warn of a move back to the 200-day average at $1075, potentially even the “neckline” to the multi-year base at $1045.” 

“We would look for a fresh floor in the $1075/45 zone for an eventual resumption of the core bull trend back to $1340, then $1399/1400.”