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HomeLatestPlatinum Price Breaches the Resistance: Forecast for July 8, 2024
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Platinum Price Breaches the Resistance: Forecast for July 8, 2024

Platinum Price Analysis

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Today, platinum price has successfully breached the significant resistance level at 1015.00$, maintaining its position above this crucial threshold. This breakout signals the activation of a bullish trend scenario, with expectations set for continued gains in the upcoming trading sessions. The next targets for platinum are projected at 1042.00$ and 1075.00$.

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The Moving Average 55 (MA55) indicator lends additional support to the continuation of this anticipated bullish trend. However, it is essential to monitor the price closely, as a retreat below 1015.00$ would invalidate the positive scenario. Such a move could potentially expose the price to negative pressures, targeting the initial key support level at 983.55$.

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Expected Trading Range

The expected trading range for today is anticipated to fluctuate between a support level of 1000.00$ and a resistance level of 1050.00$.

Trend Forecast: Bullish

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