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Platinum prices have entered a new bullish rally, successfully breaching the $1,015.00 barrier and indicating a potential continuation towards the $1,025.00 target.
It is crucial for the price to maintain support above the $983.00 level, which acts as a protective line for the bullish trend. Additionally, a positive close above the recently breached barrier is necessary to support the outlook for reaching the 38.2% Fibonacci correction level at $1,042.00 in the near future.
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The expected trading range for today is between $1,000.00 (support) and $1,042.00 (resistance).
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Trend Forecast: Bullish
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