Platinum price returned to stabilize near the $1,655.00 level, affected by the negative pressures represented by the formation of the $1,780.00 level as an additional strong resistance barrier, along with the main indicators providing negative momentum during the recent period.

 

Based on the above, we expect the price to attempt to resume its bearish moves, which may target the stable support level at $1,605.00 in the near term. A break below this level could extend the losses toward $1,565.00 and $1,490.00.

 

The expected trading range for today is between $1,605.00 and $1,730.00

 

Trend forecast: Bearish