Platinum flat Thursday, closed at $1,017 while in the midst of a bearish run

While on a 3 day downtrend With a marginal improvement upon Thursday's session, the Platinum future recovered back to $1,017 per troy ounce after dipping down to $1,004.3, in a session that followed Wednesday's $1,016.8 close value.

Platinum made an initial break below its 5 day Simple Moving Average at $1,006, a possible indication of a forthcoming negative trend. The Platinum future's upper Bollinger Band® is at $1,035.52, suggesting that a downward move may follow. In contrast, CME Platinum is climbing away and is now $20.07 from the $996.93 support line.

Although price action remains in a stalemate, technical analysis suggests the Platinum future could be primed for a break to the downside.

The commodity has been trending positively for about 29 days. Platinum hit a significant low of $805.5 around 7 months ago, but has since recovered 26.23%.