Tough start for the Platinum future this morning following 0.48% decline; now at $1,070.5 per troy ounce

CME Platinum is down to $1,070.5 per troy ounce, after ending Friday at $1,075.7. Overall, a 0.48% loss or $5.2 today.

Platinum's lower Bollinger Band® is at $1,038, indicating that the asset has overextended to the downside and could, therefore, bounce back as buyers look for bargains.

Technical analysis shows that the Platinum future (currently on a downtrend) might reverse course and start going up in the short term.

In the meantime, negative performances are also seen in other Metals as after ending Friday's session at $3.73, Copper lost 2.55 cents and is trading around $3.71. Silver is down to $23.9, losing 16 cents, after closing at $24.06 in the preceding trading session. Palladium goes down 0.84% to trade around $1,511.

Furthermore, United States New Home Sales (Apr) is expected tomorrow at 14:00 UTC. United States Services PMI is expected tomorrow at 13:45 UTC. United States Building Permits will be released tomorrow at 12:00 UTC.

Over the past a month, the Platinum future has retreated 5.76% from a noteworthy peak of $1,141.5.