Platinum prices concluded yesterday’s session with a rally above the $950.00 resistance level, suggesting a postponement of the anticipated decline. Currently, the price is holding steady around $958.00, having settled above the MA55.
Given this position, we anticipate further positive movements, with potential to exceed the $962.00 mark and reach the next resistance at $983.00. However, if the price falls back below the recently breached resistance level, it could negate the temporary bullish outlook and shift focus toward potential declines near $920.00 and $907.00.
The expected trading range for today is between $955.00 (support) and $983.00 (resistance).
Trend Forecast: Temporarily Bullish
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