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Platinum Price Nears Key Resistance Mark

by Jennifer

In a strategic maneuver, the platinum price capitalizes on its consistent positioning above the MA55 benchmark. This strategic positioning prompts a departure from the 50% Fibonacci correction level positioned at 950.00, setting the stage for the emergence of fresh bullish momentum. A notable development is the price’s progressive approach towards a pivotal resistance point at 992.00.

While some lateral fluctuations may transpire, a sustained positive thrust is anticipated, poised to breach the identified resistance. This prospective breakthrough is projected to usher in a return to the bullish channel, with the subsequent target set on surging towards new favorable benchmarks. Forecasts point towards a rally targeting levels of 1015.00 and 1040.00.

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Today’s projected trading scope extends between 960.00 and 992.00.

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The projected trend for today maintains a bullish trajectory.

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