The platinum price posted another negative close below the resistance positioned near $1,785.00, increasing the chances of activating the previously suggested bearish attempts, with the price targeting $1,720.00 in this morning’s trading, approaching the first previously suggested target.

 

We note that Stochastics attempt to exit the overbought level will increase the negative pressure on current trading, leading us to expect the price to challenge the $1,685.00 level. A break below this level could extend the losses toward $1,642.00. On the other hand, breaking above the resistance and stabilizing there would provide the price with a good opportunity to build a bullish path, initially targeting $1,825.00 and $1,865.00.

 

 

The expected trading range for today is between $1685.00 and 1770.00

 

Trend forecast: Bearish