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