The current price for platinum is $920 and trading marginally above its 200 day moving average (916.70) and also above its 50 day moving average (918.00). It has now exhibited a golden cross formation which is bullish.
The MACD indicator is currently at the end of a bearish phase and promises to turn to the upside. Expect a rally towards $964, the Fibonacci 61.8% retracement level from the low of 895, based on the recent 895 to 1006 range traded since the midddle of April 2024.
