Platinum prices experienced a new bullish rally yesterday, successfully reaching the target of $1,015.00, which now acts as a resistance level against further bullish movements, aligning with the 61.8% Fibonacci correction level.
The current decline towards $995.00 indicates a consolidation phase as the market seeks to build the necessary momentum to overcome this resistance. If successful, the next targets are anticipated at $1,028.00 and eventually $1,042.00 in the medium term, contingent on maintaining support above $983.00.
The expected trading range for today is between a support level of $992.00 and a resistance level of $1,028.00.
Trend Forecast: Bullish
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