After five days of declines, Platinum is up $1.5 today

After closing the previous trading day at $1,028, the Platinum future is up to $1,029.5 per troy ounce, which makes for a move of 0.14%/$1.5 today.

Trend and momentum analysis indicates that the Commodity Channel Index (CCI) indicator is below -100, meaning the market price is unusually low and below its rolling moving average. Technical analysis indicates that a new, strong downtrend could be forthcoming with short positions favored. Asset volatility analysis shows that the Platinum future's lower Bollinger Band® is at $1,012.55, indicating that the market is oversold and fertile for new buyers.

Overall, the technical outlook suggests Platinum is likely to remain muted for the immediate future, with no clear-cut direction.

Furthermore, the market is looking at tomorrow at 14:00 UTC data for United States Consumer Confidence will be released, with an expected decline to 99 from the preceding figure of 101.3.

Platinum has fallen back around 9.93% over the past a month, from a notable high of $1,141.5.