Platinum prices have lost the positive momentum seen earlier, causing the metal to fluctuate below the $950.00 barrier and move sideways around the $935.00 mark. The bullish outlook remains dependent on the $920.00 support level, which is crucial for a potential rebound. If this support holds, there is still hope for regaining upward momentum, allowing platinum to target higher levels, possibly reaching $965.00 and $983.00.
However, if the price continues to face negative pressures from key indicators and falls below the $920.00 support, the market could experience further downside. A break below this level could trigger a new wave of selling, pushing platinum towards the next support levels at $905.00 and $882.00.
The expected trading range for today is between $920.00 and $950.00.
Trend Outlook: Bearish
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