Platinum price remained relatively stagnant up to this point, influenced by the notable resilience of the 50% Fibonacci correction level positioned at 950.00. This factor has posed a hindrance to the anticipated continuation of the previously proposed correctional bullish momentum.
The prevailing outlook suggests a likelihood of further sideways fluctuations as the market awaits additional positive momentum to potentially support the maintenance of the correctional bullish trajectory. To achieve this, the price needs to achieve fresh upward closes above the level of 920.00. Subsequently, efforts to overcome the current resistance barrier could be made, aiming to secure additional gains. These potential gains might extend towards the 970.00 mark and, further ahead, target the resistance level at 992.00.
Within today’s trading context, the projected range is expected to span between 935.00 and 970.00.
Anticipated Trend for Today: Bullish
