After 11 days of going up, the Platinum future is down $6.2 today

Platinum is down to $1,132.5 per troy ounce, after ending Friday at $1,138.7. Overall, a 0.54% loss or $6.2 today.

Trend and momentum analysis indicates that investors are seeking long positions as Platinum price action surged above +100 — a key CCI threshold indicating an imminent bullish trend. According to momentum evaluation, according to technical analysis of Platinum's Relative Strength Index (RSI), the market is currently overbought. Analysis based on the asset volatility indicates that the Platinum future's upper Bollinger Band® is at $1,152.51 which indicates a further downward move may follow.

Notwithstanding Platinum's appreciation in recent days, the technical outlook suggests its bullish run is now fading.

Though CME Platinum has been dropping, other Metals have been performing better: having closed the previous session at $1,990.5, Gold is up 0.16% today to currently trade at around $1,993.6.

With markets struggling for positive sentiment, upcoming macro data could potentially attract buyers in the market as tomorrow at 14:00 UTC data for United States Consumer Confidence will be released, with an expected decline to 104 from the preceding figure of 104.2.

Furthermore, United States Building Permits scheduled to come out tomorrow at 13:30 UTC. United States New Home Sales (Mar) is scheduled for tomorrow at 14:00 UTC.

The commodity has been trending positively for about a month. The Platinum future is up 41.37% from the significant low of $805.5 it hit 7 months ago.