Platinum to lurch higher towards $1,340 on a break past $1,107 – Credit Suisse

A break above $1,107 would see platinum establishing an important base. The precious metal would then mark a change of trend higher towards the $1,340 high, strategists at Credit Suisse report.

Upside bias while above $1,107 

“Platinum has moved strongly higher to turn the spotlight on the $1,107 high of November last year. A weekly close above here would see an important base established and change of trend higher. We would then see resistance at $1,148 initially, ahead of $1,171 and eventually back at the $1,340 high.”

“Support at $1,007 needs to hold to see the immediate upside bias maintained.”