Platinum prices exhibited a robust upward movement, breaching the first target at $983.00. However, a correction ensued as the price faced resistance at the 50% level, settling below this mark. Analysts emphasize the critical support level at $950.00, citing its significance for sustaining the positive momentum.
Technical indicators, particularly stochastic momentum signals, are viewed favorably by experts, potentially facilitating a breach of the current resistance barrier. Forecasts suggest potential gains in the near-term, with targets projected towards $996.00 and $1015.00.
Trading Range:
Market projections indicate today’s trading range to fluctuate between $965.00 and $996.00, offering insights into potential price movements.
Trend Forecast:
The prevailing trend in platinum prices is bullish, reflecting optimism among market participants regarding future price movements.