The price of platinum has capitalized on the stability of the $1015.00 support level, which represents the 61.8% Fibonacci correction level. This stability has led to the emergence of robust bullish waves, propelling the price above $1040.00. The objective is to recuperate previous losses, with a target set at $1058.00.
With stochastic momentum indicating positivity, the bullish trajectory is expected to gain further momentum in both the near-term and medium-term trading scenarios. This positive momentum opens avenues for bullish attempts, potentially aiming for $1085.00. Sustaining trading activity beyond this resistance level could pave the way for further upward movement, with a potential high of $1125.00.
The expected trading range is projected to be between the support level of $1040.00 and the resistance level of $1085.00.
Trend Forecast: Bullish