This year, the WPIC expects global platinum supply to drop by 18% and demand - by only 5%. This may lead to a global platinum deficit of 1.2 million ounces. In 2021, it can be reduced to 224 thousand ounces. The plans of developed countries to actively develop hydrogen energy and the use of hydrogen fuel may cause a possible platinum deficit. In this case, platinum can be used as a catalyst for some chemical processes. In addition, WPIC expects global demand for platinum in diesel vehicle production to increase by about a quarter next year, and in China - by 68%. According to the WPIC, the start of platinum purchases by industrial companies and the corresponding increase in quotes can be supported by purchases of global investment funds and the global jewelry industry.
| Indicator | VALUE | Signal |
|---|
| RSI | | Neutral |
| MACD | | Buy |
| MA(200) | | Neutral |
| Fractals | | Neutral |
| Parabolic SAR | | Buy |
| Bollinger Bands | | Neutral |
Summary of technical analysis
| Order | Buy |
| Buy stop | Above 963 |
| Stop loss | Below 836 |