Platinum continues strengthening for today

Platinum has been rising along with other precious metals after the global markets started correcting to the upside, starting with the stock markets in New York and following with the Asian markets and the European markets. Even though the bullish momentum is still in place in platinum, we can see on the daily chart that the metal has not been able to stay above its 200 period exponential moving average, around the 1001 level. Its most recent high is around the 1007 and if it breaks that level to the upside, then the price may try to go and visit the high around the 1035 level. If the price returns to the downside, then the 987 level could act as support, but below that level, the double bottom around the 968 level could act as a better support.