Platinum prices have demonstrated a series of consistent positive closings, maintaining their position above the critical support level at 911.00. Currently, the price has stabilized in proximity to the MA55, which has acted as a hindrance to the bullish rally, with a settlement near 931.00.
To further solidify the bullish outlook, it is imperative to accumulate additional positive momentum and sustain a position above the MA55. This will enhance the likelihood of achieving further positive gains that could propel prices towards the 50% Fibonacci correction level at 950.00 in the near future. Surpassing this level could extend the upward movement towards 985.00, serving as the next target for bullish trades.
The expected trading range for the day is between 915.00 and 950.00.
Today’s expected trend: Bullish
