Slightly weaker but mostly flat: CME Platinum is currently trading at $993.6 per troy ounce as it maintains an active range between $993.1 and $1,009.
Platinum made an initial break below its 3 day Simple Moving Average at $995.5, a possible indication of a forthcoming negative trend. On the other hand, note that CME Platinum could begin to recover as it approaches significant support, now 90 cents away from $992.7. Dipping below could be an indication that further losses are ahead.
Looking forward, the Platinum future is poised to extend its strong downtrend and continue declining.
Though Platinum has been dropping, other Metals have been performing better: having closed the previous session at $1,745.6, Gold is up 0.39% today to currently trade at around $1,752.4. Having closed the previous session at $3.62, Copper is up 0.43% today to currently trade at around $3.63.
The Platinum future is up 23.75% from the significant low of $805.5 it hit 2 months ago.