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Platinum Price Analysis: Bullish Momentum Continues with Potential for Historic Resistance

by Daisy

In yesterday’s trading session, platinum price approached but did not quite reach the anticipated target of $1040.00. Despite this, positive momentum persists, bolstered by key indicators and reinforced by additional support forming at $1015.00. This dynamic sets the stage for a potential bullish surge, aiming for new gains with a target price of $1058.50.

With these favorable factors in play, the current outlook leans towards a bullish trajectory, heightening the likelihood of testing the historical resistance level at $1085.00. This level serves as the focal point for upcoming trading activity, as it will dictate the future trend direction.

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Expected Trading Range: The anticipated trading range spans from the support level at $1040.00 to the resistance level at $1085.00.

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Trend Forecast: Bullish

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