Suggested Scenarios and Trading Range Analysis
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Scenario: Potential Reversal to Bullish Momentum
The platinum price continued its correctional bearish waves yesterday, experiencing significant losses as it reached $901.45. However, it rebounded positively, influenced by stability above the major support level at $895.00. Additionally, stochastic indicators have exited the oversold areas.
- Instability may arise due to the contradiction of the MA55, which consolidates near $920.00.
- Initial barrier stability may increase, leading to renewed correctional negative attempts.
- If the price manages to surpass $920.00 and holds above it, bullish momentum may be activated.
- Targets for the bullish track include positive stations starting at $938.00 and $950.00.
Expected Trading Range for Today
Between $920.00 and $905.00.
Trend Forecast: Bearish