Platinum price continues to maintain a bullish trajectory, supported by its consistent fluctuation above the $983.00 support level. This signals its readiness to potentially initiate a bullish rally soon. Moreover, stochastic indicators are beginning to show positive momentum, which could facilitate the formation of new upward movements, targeting first the $1015.00 level. Surpassing this level would further propel the price towards the next target at $1042.00.
It’s important to note that a break below the current support level, accompanied by sustained trading below it, would negate the positive outlook. In such a scenario, corrective bearish waves could be expected, targeting $968.00 and potentially down to $950.00 before any renewed upward movement.
Today’s expected trading range is between $983.00 and $1015.00.
Trend Forecast: Bullish
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