According to OCBC’s Christopher Wong, platinum continues to exhibit a firmer tactical bias, with a preference for buying on dips despite a recent loss of momentum near the 1860–1910 range [1]. The metal's rebound has paused, with the latest price observed at 1850, but mild bullish momentum remains intact [1]. Key resistance levels are identified at 1863, which represents the 23.6% Fibonacci retracement of the 2026 high to low, and at 1943, corresponding to the 200-day moving average [1]. Wong notes that a clean breakout above these resistance levels is necessary for bulls to gain greater conviction, with the next upside target at 2065, the 38.2% Fibonacci retracement [1].
On the downside, support levels are seen at 1815, the 100-day moving average, and at 1765, the 21-day moving average, which anchor the constructive near-term outlook [1]. Wong reiterates that the bullish bias and buy-on-dips strategy remain intact as long as these support levels hold [1].
No specific market reactions or broader market implications are discussed in the source. There are also no forward-looking statements from other analysts or additional commentary on external factors influencing platinum prices in the article [1].
CONCLUSION
Platinum retains a mild bullish momentum with a buy-on-dips bias, according to OCBC’s Christopher Wong. Key resistance levels must be cleared for further upside, while support levels provide a constructive near-term outlook. The market remains cautiously optimistic pending a breakout above resistance.