Platinum prices have consistently closed above the $928.00 support level, suggesting a potential reduction in losses and the initiation of a corrective bullish trend. On Friday, the price reached $946.00.
To solidify the bullish outlook for both the short-term and medium-term, platinum must break through the $950.00 resistance. A successful breach could drive prices toward an initial target of $970.00, followed by the $983.00 barrier. Conversely, failure to maintain support could lead to further declines, potentially testing the $920.00 and $908.00 levels.
The anticipated trading range for today is between $925.00 (support) and $970.00 (resistance).
Trend Forecast: Bullish
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