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Platinum Struggles to Build Bullish Momentum Amid Negative Indicators

by Daisy

Platinum prices continue to face pressure from negative market indicators, hindering the anticipated bullish rally. The metal has been fluctuating near initial support levels around $933.00, and it may continue to trade sideways until it gathers sufficient positive momentum. If platinum can push past the $950.00 mark, it could open the door for a rally targeting higher levels, with $983.00 and $1005.00 as potential price stations.

However, the risk of a trend reversal looms if platinum drops below the critical $920.00 support. Such a move could lead to significant losses, delaying the possibility of reaching the positive targets.

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For today, the expected trading range for platinum is between $930.00 and $955.00.

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Trend Forecast: Bullish

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