Platinum price traded slowly in a sideways manner yesterday, influenced by ongoing contradictions between key indicators, as it remains consolidated below the significant $950.00 level. The price is attempting to confirm the previously suggested bearish scenario, with the first target set at $920.00, followed by $905.00.
It’s important to note that if the price surpasses the current resistance and stabilizes above it, the negative outlook will be invalidated, potentially shifting the trend towards the upside. In that case, the price could target $965.00 initially, followed by the next major barrier at $983.00.
The expected trading range for today is between $920.00 support and $950.00 resistance.
Trend Forecast: Bearish
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