Platinum price fluctuates within the bullish track – Forecast today – 1-5-2024

Scenarios and Trading Range

Expected Scenarios

• Platinum price fluctuated below the 950.00$ barrier.
• Temporary correctional rebound was noticed, testing 930.00$.

Postponing the bullish attack was forced due to fluctuating below the barrier, with the potential to resume bullish attempts.

Frequent stability above the key support at 898.00$, along with MA55 forming additional support at 922.00$, suggests bullish attempts.

Reacting to stochastic positivity increases the chances of breaching the mentioned barrier and targeting new positive stations, possibly extending towards 962.00$ and 983.00$.

Trading Range

The expected trading range for today is between 925.00$ and 950.00$.

Trend Forecast

Bullish