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Platinum prices have entered a corrective bearish phase, unable to overcome resistance from the MA55, which now acts as a significant obstacle at $974.00. The price is nearing the initial support level at $950.00.
Continued bearish momentum could result in a break below $950.00, potentially driving prices toward the next support targets at $937.00 and $920.00. Conversely, to regain a bullish trajectory, the price must achieve a positive close above $983.00, signaling the potential for further upward movement in the coming period.
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The expected trading range for today is between $937.00 and $975.00.
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Trend Forecast: Bearish
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