Is it the end of CME Platinum's rally? After three days of gains, it is down by 0.64% today

CME Platinum is down to $955.6 per troy ounce, after ending yesterday at $961.8. Overall, a 0.64% loss or $6.2 today.

On the flip side, highly important Crude Oil Inventories data from United States beat analyst expectations of 457,000 with a reading of 1.17 million.

Amid the market gloom, United States ISM Manufacturing PMI (Feb) came out at 47.7, while a consensus of analysts was expecting 48. United States Cushing Crude Oil Inventories released yesterday at 15:30 UTC with a figure of 307,000, while the previous figure was 700,000.

Platinum's upper Bollinger Band® is at $976.69 which indicates a further downward move may follow.

Following today's unexpected losses, extensive multifactorial technical analysis forecasts the Platinum future to buck against its prevailing uptrend and begin to dip lower in the short term. With all probabilities considered, the the Platinum future is expected to attract significant bearish sentiment in the coming days.

In the meantime, negative performances are also seen in other Metals as Copper closed at $4.14 (down 0.5%). Gold stumbles 0.28% to trade around $1,840.2. Silver closed at $21 (down 0.5%).

With markets struggling for positive sentiment, upcoming macro data could potentially attract buyers in the market as United States Initial Jobless Claims expected to decline to 195,000 while its preceding data was 192,000, data will be available today at 13:30 UTC.

Furthermore, United States ISM Non-Manufacturing PMI (Feb) is expected tomorrow at 15:00 UTC.

So far this year, the Platinum future has declined 12.38% while touching highs around $1,168.8 earlier this year.