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Platinum prices have lost their bullish momentum after reaching the $1005.00 mark, subsequently falling below $983.00. This decline follows the stochastic indicator’s exit from the overbought territory, signaling a temporary halt to the upward movement.
The market is currently experiencing a sideways bias, driven by conflicting signals from key technical indicators. Should the price gather additional negative momentum, it could target the $965.00 level, with further support potentially emerging at $950.00.
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Today’s projected trading range: $965.00 to $995.00
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Trend outlook: Bearish
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