Platinum price remained unchanged up to this moment due to its repeated positioning below the resistance at $1,840.00. The price continues to fluctuate near the 55-period moving average. We note that the bullish scenario remains valid as long as the support level at $1,705.00 holds, which keeps us waiting for the required breakout before the price begins recording further gains, initially targeting $1,880.00 and then attempting to reach the next main target near $1,960.00.

 

On the other hand, a decline below the support level at $1,705.00 and sustained trading beneath it would confirm a shift into a bearish path, with the price expected to incur significant losses, initially moving toward $1,645.00.

 

The expected trading range for today is between $1760.00 and $1880.00

 

Trend forecast: Bullish