Platinum price remains under the influence of a corrective bullish stance driven by consistent upward pressures, a trend highlighted by the stochastic indicator’s positioning within the overbought range. Notably, the price maintains its oscillation above the 920.00 level, thereby heightening the probability of attaining further gains that could extend towards the initial resistance hurdle at 950.00.
However, a shift back towards a bearish orientation would necessitate the formation of robust downward momentum, aiming to breach the supplementary support at 878.00 and sustain below it. Such a move would indicate potential for a downturn towards the 61.8% Fibonacci correction level, situated at 850.00. Subsequently, a medium-term target around the 82.00 mark could come into play.
Anticipated trading for today is projected between 910.00 and 950.00.
Projected trend for today: Temporarily Bullish
