Bollinger Bands Signal Potential Breakdown in Platinum Futures

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  • Price is currently testing the midline of the Bollinger Bands (blue line), which often acts as dynamic support/resistance.
  • The recent price rejection at the upper band and subsequent drop toward the midline suggests a potential continuation to the lower Bollinger Band (~940-950 range) if bearish pressure continues.
  • Increased volume on recent down days suggests strong selling pressure.
  • Resistance: ~1030-1050 (recent highs, upper Bollinger Band).
  • Support: ~940-950 (lower Bollinger Band, previous consolidation zone).
  • If price fails to hold above 980-990, further downside to ~950 is likely.


Penafian

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