Platinum prices concluded yesterday’s trading with a positive close above the $928.00 support level, mitigating the potential for further losses and resulting in sideways movement due to conflicting signals from key indicators. Stochastic indicators are showing a recovery from oversold conditions.
Continued stability above the current support could trigger a corrective bullish trend, with potential upward movements towards $949.00 and possibly reaching the 55-day moving average (MA55) at $967.00. However, if the price slips below the support level, additional declines could occur, potentially targeting $920.00 and $908.00.
The expected trading range for today is between $925.00 support and $950.00 resistance.
Trend Forecast: Bullish
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