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Platinum and Copper Price Outlook – Metals Diverge in Holiday Trading
Published: Jul 4, 2025, 13:59 GMT+00:00
The platinum market rose, while the copper market dropped in thin holiday trading. With this being the case, the market cannot be trusted so much as the lack of volume means that nothing will have changed, and both are still bullish.
Platinum Technical Analysis
Platinum has rallied just a bit for the very thin Friday session as we continue to see a lot of upward momentum in this market. Ultimately, this is a market that’s basically been on fire and has gone straight up in the air over the last couple of weeks. With that being the case, we are eyeballing the $1,450 level yet again, and it looks like the $1,350 level is your support. Platinum really likes to move in big figures. So, what I mean by that is you can see that in the past, we had seen a lot of action around the $1,000 level, the $1,200 level, the $1,300 level, and so on.
The 50-day EMA is all the way down at the 1,182 level, and I think that is probably going to define the trend, but I don’t expect that we will pull back to that level anytime soon. Ultimately, this is a market that given enough time, will give you a pullback and you have to look at it as a potential value play. Right now, though, $1,350 should be your short-term support, $1,450 your short-term ceiling in what is an otherwise bullish market.
Copper Technical Analysis
Contrast that with copper, which of course had been on a tear as well, but we have pulled back a bit. It looks like we might have to test the crucial $5 area. If that does in fact end up being the case, then I think you have to look at this through the prism of a market that if we bounce, it’s probably a buy signal. If we do not, then copper could very well drop down to the $4.85 level, but we’ll have to see whether or not that actually happens. Regardless, there’s literally no chance of me shorting this market anytime soon. I do think that this pullback should offer plenty of buying opportunities as well. A little bit of a potential double top near $5.25, but really at this point in time, I think it’s too early to call it that.
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About the Author
Christopher Lewisauthor
Chris is a proprietary trader with more than 20 years of experience across various markets, including currencies, indices and commodities. As a senior analyst at FXEmpire since the website’s early days, he offers readers advanced market perspectives to navigate today’s financial landscape with confidence.
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