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Platinum Price Analysis: Bearish Trend Continues

by Daisy

Current Scenario

The price of platinum has confirmed its alignment with a correctional bearish trend, registering new lows with negative closings below the $1042.00 mark. The commodity has experienced further declines, reaching $1027.25.

The stochastic oscillator’s exit from overbought territories suggests an increase in negative momentum, bolstering the likelihood of continued downward movement. This aligns with previously projected targets, set at $1015.00 and $985.00.

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Expected Trading Range

Support: $1015.00

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Resistance: $1050.00

Trend Forecast: Bearish

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