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Platinum prices have experienced temporary downward pressure due to a stochastic exit from overbought conditions, resulting in sideways fluctuations around the 55-day moving average (MA55) at $970.00.
Overall, the bullish outlook for platinum remains intact as long as the price stays above the key support level of $935.00. If the market can regain positive momentum and break through the resistance level at $983.00, it could pave the way for further gains, potentially reaching targets of $1010.00 and $1042.00.
Today’s anticipated trading range for platinum is between $955.00 and $1000.00.
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