Platinum prices capitalized on a surge in positive momentum, driven by stochastic indicators entering overbought territory. This development has led to the formation of new bullish waves, propelling prices above the MA55 level to settle close to $980.00.
Market analysts emphasize that the bullish outlook remains contingent upon the $950.00 support level holding firm. Continued support at this level is expected to sustain upward pressure, potentially pushing prices beyond the $983.00 resistance barrier. This breakthrough could pave the way for further gains, with targets extending towards $1010.00 and a medium-term goal of reaching $1042.00.
Today’s projected trading range is anticipated to fluctuate between $950.00 and $1000.00, reflecting ongoing market volatility and potential for further price movements.
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