Platinum prices remain constrained by repeated fluctuations below the key resistance level of $950.00, resulting in weak, sideways trading. This price action has delayed the anticipated bullish rally, as the metal struggles to clear this significant obstacle.
However, the stochastic indicator’s movement towards the overbought zone signals potential for a buildup of positive momentum. If platinum manages to break through the $950.00 resistance, it could pave the way for further gains, with targets near $963.00 and $976.00. On the other hand, failure to breach this level would reinforce the sideways market scenario, potentially triggering a retest of the initial support at $920.00 before any further attempts to reach higher price levels.
Today’s expected trading range for platinum is between $935.00 and $963.00, with a bullish trend forecast, contingent on the ability to break the $950.00 barrier.
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