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May 08, 2023The Platinum future has been losing ground for 14 days, shedding a total of 6.38% of its value. Today is looking a bit better: CME Platinum trades at $1,068.7 per troy ounce, after ending Friday at $1,068.3.
Platinum's upper Bollinger Band® is at $1,136.71 and the lower is $1,037.78.
Despite muted price action in CME Platinum, chart analysis indicates it is positioned for a bullish run in the short term.
Data to be released later is expected to clarify investor sentiment while boosting price action volatility as United States EIA Short-Term Energy Outlook is expected tomorrow at 16:00 UTC.
Approximately 17 days ago, Platinum reached a significant high of $1,141.5 but has struggled to hold onto its gains and declined 6.41% since then.
