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Platinum prices are still lacking negative momentum at this point, with a pattern of continuous corrective bullish waves. The price has managed to hold above the additional support at 855.00, resulting in some gains and a rally towards 890.00.
It’s essential to note that the persistent struggle to stay below the 50% Fibonacci correction level at 950.00 and the ongoing attempts to establish resistance around the 920.00 level suggest that we should anticipate the gathering of additional negative momentum. This could lead to a decline towards the 855.00 support level once again. If this level is broken, it may extend medium-term trades towards 820.00 and 780.00.
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Today’s Expected Trading Range: 905.00 – 960.00
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Today’s Trend Outlook: Bearish
