CME Platinum today at a glance: after closing at $1,011.5 yesterday, CME Platinum began today at $1,012.8 with significant bullish sentiment driving CME Platinum's price action higher. So far today, price action has drawn out a distinct $1,005.6 to $1,021.6 range. United States's Initial Jobless Claims new data released of 230,000 below its previous figure.
Platinum made an initial breakout above its 21 day Simple Moving Average at $1,012, a potential indicator of a newly emerging bullish phase. Price action remains constrained around the key Fibonacci level of $1,014.5 currently serving as resistance
Overall, looking at the technical analysis landscape, it seems Platinum might continue pointing upwards in the short term.
Silver is up 1.45%. Copper gained 1.14% and is currently trading at $3.9. Having closed the previous session at $1,798, Gold is up 0.21% today to currently trade at around $1,801.7.
Highly important Initial Jobless Claims data from United States beat analyst expectations of 230,000 with a reading of 230,000. United States Crude Oil Inventories released earlier showed a marked improvement to -5.19 million from the preceding data of -12.58 million, but fell short of the -3.31 million figure forecast by a consensus of market analysts.
United States Producer Price Index is expected tomorrow at 13:30 UTC.
Having set a significant high of $1,168.8 3 months ago, CME Platinum is trading 25.57% lower.