Platinum Price Analysis: Bulls Gain Momentum, Targets Set at Key Levels

by Jennifer

Platinum prices demonstrated bullish momentum, surging above the crucial $900.00 level and signaling a shift away from recent negative pressures. As the market eyes further gains, attention is drawn to key resistance levels, particularly the 23.6% Fibonacci correction level at $908.00.

The market’s resilience is bolstered by the formation of additional support at the $882.00 level, coupled with positive momentum indicated by major technical indicators. This convergence of factors enhances the likelihood of surpassing the $908.00 resistance barrier, paving the way for further upside potential.


Looking ahead, traders are setting their sights on new positive milestones, with initial targets positioned at $918.00. A breach of this level could catalyze momentum towards the 50% Fibonacci correction level at $949.00, presenting significant opportunities for bullish advancement.


Considering the current market dynamics, the expected trading range for today is forecasted to fluctuate between $894.00 and $915.00. Amidst these price movements, the prevailing trend remains bullish, reflecting the ongoing momentum in platinum prices.

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