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Platinum Price Remains in a Bearish Pattern

by Jennifer

The platinum price continues to adhere to its bearish trajectory, as it experiences fluctuations within the confines of a bearish channel. This pattern is further evident as it struggles to surpass the additional resistance at 905.00. Additionally, the MA55 is gradually converging towards the primary resistance around 930.00, reaffirming the adherence to the expected bearish course.

These aspects suggest that we should anticipate the accumulation of more bearish momentum to facilitate the development of robust downward movements. This could potentially lead to a descent towards an additional support level near 855.00. In the event of a breach, it is plausible for the price to extend its bearish journey towards 820.00, ultimately reaching the 780.00 mark.

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For today, the projected trading range is expected to range between 905.00 and 855.00, with a prevailing bearish sentiment.

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It is vital to remember that trading decisions should be executed prudently and consider the inherent market risks.

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