Platinum prices experienced a notable rally yesterday, breaching the $950 resistance level and settling above the 55-day moving average (MA55) at $958.00. This upward movement suggests a potential postponement of the anticipated negative trend.
Market analysts predict that the price may continue its upward trajectory, with the next target set at $962.00. A successful push beyond this level could lead to further gains, with the next significant resistance at $983.00. Conversely, if prices fall below the recently breached resistance level, the current positive outlook could be revised, potentially driving prices towards lower support levels around $920.00 and $907.00.
For today, the expected trading range for platinum is between $955.00 and $983.00.
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