Platinum price demonstrated a bullish bias following consolidation around the $983.55 level, resisting recent downward pressure to test the $1000.00 barrier. Analysts await a potential resumption of the bearish trend, contingent upon a confirmed break below this level to pave the way towards $950.00.
The recent uptick is attributed to stochastic indicators showing positivity, underlining reasons for the price’s recent ascent. However, the sustainability of the bearish outlook hinges on maintaining price stability below $1016.00.
Today’s anticipated trading range spans from $970.00 to $1016.00.
Trend Forecast: Bearish
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