Platinum remains under pressure, continuing its negative trend as it struggles to maintain stability below the $950.00 level, which now acts as a significant resistance point. Key technical indicators are reinforcing the bearish momentum, suggesting that the price may soon break through the next support at $920.00. This could trigger further losses, with potential downside targets at $905.00 and $880.00.
However, if platinum manages to break above the $950.00 mark and close positively, it would negate the bearish outlook and open the possibility of a rebound toward the next major resistance at $983.00.
The expected trading range for today is between $920.00 support and $905.00 resistance.
Trend Forecast: Bearish
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