Despite the stability of platinum prices above the support line at 918.00, the market is currently experiencing slow trades. This sluggish movement is influenced by a contradiction in the stochastic indicator, indicating an attempt to exit overbought areas.
Given these conditions, traders are advised to exercise patience and await additional positive momentum. A successful gathering of such momentum could lead to the formation of robust bullish waves, targeting the 50% Fibonacci correction level at 950.00. It is crucial for the market to overcome this obstacle, as it would pave the way for further gains, potentially commencing at 983.00.
The anticipated trading range for the current session is expected to fluctuate between 920.00 and 950.00. The overall trend outlook for today is bullish. Traders are encouraged to monitor price movements carefully and consider the mentioned support and resistance levels in their decision-making processes.
