Platinum price continues to grapple with a lack of positive momentum, hovering near the critical support line at 911.00 as of this morning. The significance of maintaining a position above this support becomes apparent, as it bolsters the likelihood of triggering a bullish trajectory. The awaited positive gains are envisioned to manifest at 950.00, with further aspirations reaching 983.00 on a medium-term basis.
Conversely, succumbing to fresh negative pressures and slipping below the aforementioned support would prompt a reentry into the bearish channel. Such a development increases the risk of substantial losses, potentially driving the price towards 885.00 and 855.00.
For today’s trading, the projected range oscillates between the support at 910.00 and the resistance at 935.00. Market participants are advised to closely monitor these levels for potential shifts in the prevailing trend.
Expected Trend for Today: Bullish
