In recent trading sessions, platinum prices have exhibited a persistent effort to surpass the $1081.00 threshold. This upward momentum, buoyed by stochastic positivity, has resulted in the formation of a new bullish wave, propelling the precious metal to reach the $1094.25 level. This development signals the potential for a resumption of the bullish trajectory in both the near and medium-term outlook.
Critical to sustaining this bullish momentum is the need for platinum prices to maintain support levels above $1040.004. Doing so would facilitate the confirmation of breaching the aforementioned barrier and pave the way for further upward movement towards promising targets. Among these targets are significant positive stations anticipated to extend towards $1105.00 and $1128.00.
Considering the current market dynamics, the expected trading range for platinum is forecasted to oscillate between the support level of $1065.00 and the resistance level of $1105.00.
In summary, the prevailing trend forecast for platinum remains bullish, supported by recent price action and technical indicators. Investors and traders may anticipate further upward movement in the platinum market in the coming sessions.
