Platinum prices have continued to close above the $983.55 support level, reinforcing the likelihood of a bullish rally. Initial targets include $1015.00 in the near term, followed by a further move towards the 38.2% Fibonacci correction level at $1042.00.
However, a break below the current support level, coupled with sustained trading below it, would negate the positive outlook. This scenario could trigger corrective bearish waves, potentially targeting $968.00 and $950.00 before any renewed upward movement.
Today’s expected trading range is anticipated between $983.00 and $1015.00.
Trend Forecast: Bullish
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