After closing the previous trading day at $997.5, the Platinum future is up to $1,014.6 per troy ounce, which makes for a move of 1.71%/$17.1 today.

United States Initial Jobless Claims data will be released today at 12:30 UTC, with an expected decline to 200,000.

Nevertheless, United States Crude Oil Inventories released earlier showed a marked improvement to -3.74 million from the preceding data of -7.49 million, but fell short of the -2.33 million figure forecast by a consensus of market analysts.

Meanwhile, United States ISM Non-Manufacturing PMI (Mar) came out at 51.2, while a consensus of analysts was expecting 54.5. United States ADP Nonfarm Employment Change (Mar) released yesterday at 12:15 UTC with a figure of 145,000, while the previous figure was 261,000.

Trend-focused traders would be interested to note that investors are seeking long positions as Platinum price action surged above +100 — a key CCI threshold indicating an imminent bullish trend. According to asset volatility analysis, Bollinger Band® analysis indicates that current price action is approaching the upper band at $1,031.75, thereby suggesting that CME Platinum is becoming overvalued.

All in all, the technical analysis suggests CME Platinum has no clear-cut direction.

A look at other Metals also shows upside as Copper added 0.9% to its value, now trading at $4.02.

Furthermore, the market is looking at tomorrow at 12:30 UTC data for United States Non Farm Payrolls will be released, with an expected decline to 240,000 from the preceding figure of 311,000. Projections for United States Initial Jobless Claims are set for a continuation of decline with 200,000 while previous data was 198,000; data will be released today at 12:30 UTC.

Furthermore, the market is looking at United States Unemployment Rate is expected tomorrow at 12:30 UTC.

The commodity has been trending positively for about 29 days. Having set a significant high of $1,104.4 2 months ago, the Platinum future is trading 9.68% lower.