Platinum prices have encountered a lack of negative momentum, leading to the emergence of temporary correctional bullish waves. Currently, platinum is stabilizing around the 890.00 mark. It is crucial to note that this stability is within the confines of a bearish channel. Moreover, the significant barrier at 905.00 continues to exert pressure, necessitating the collection of additional negative momentum to facilitate a return to the bearish trajectory. In this context, an anticipated move towards the 855.00 level could serve as the gateway for the resumption of a negative trend in the upcoming period.
On the contrary, if platinum manages to surpass the 905.00 level and maintains its position above it, this scenario may propel the precious metal to recommence its correctional bullish attempts in the near term. In such an event, an advance towards the 920.00 level could be expected before identifying any new bearish targets.
For the current trading session, the expected range for platinum prices is projected to fluctuate between 905.00 and 855.00, with a prevailing bearish sentiment guiding the market trend.
