Platinum prices have recently experienced fluctuations due to conflicting signals from key market indicators. The precious metal has stabilized near the $930.00 mark, showing some signs of corrective bullish waves after previous negative trends.
Currently, platinum prices are holding below the 50% Fibonacci retracement level of $950.00, which is a crucial threshold for predicting further negative movement. Analysts suggest that sustained stability below this level could signal a continuation of the bearish trend. Consequently, there is an anticipation of gathering negative momentum, potentially leading prices to test lower support levels at $907.00 and $895.00.
For today, the trading range for platinum is expected to be between $907.00 and $940.00.
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