After closing the previous trading day at $987.8, CME Platinum went up to $1,013.7 only to drop back; still positive overall today, now trading at $997.2 per troy ounce.
Platinum reversed direction at $999.63 resistance zone and retreated back $2.43 below it. Despite posting gains so far today, Platinum slid below its 21 day Simple Moving Average at $989.21 in earlier trade — an early indicator that a negative trend could be emerging.
Platinum is likely to reverse course and start pointing downward in the short term.
At the same time, Silver is trading around $21 (down 43 cents). After ending Friday's session at $1,754, Gold lost $11 and is trading around $1,743. Copper is down 2.35 cents from the beginning of the session and now trades around $3.6.
Also worthy of note, tomorrow at 15:00 UTC data for United States Consumer Confidence will be released, with an expected decline to 100 from the preceding figure of 102.5.
Having set a significant high of $1,168.8 2 months ago, the Platinum future is trading 22.63% lower.