Platinum prices remained in a narrow range on Thursday, continuing a pattern of subdued trading near the significant resistance level of $983.00. The repeated failure to decisively break this barrier is curbing bullish momentum for now.
Analysts note that conflicting signals from major technical indicators have contributed to the current stagnation. A confirmed breakout above $983.00 is needed to strengthen the bullish outlook and pave the way for potential advances toward the $1,000.00 and $1,017.00 levels.
However, if the metal remains capped below the resistance level, bearish pressure could intensify, potentially dragging prices down toward the 55-day moving average near $962.00.
For today’s session, the expected trading range is between $974.00 and $1,000.00, with the broader trend outlook remaining cautiously bullish.
