Platinum price launched a strong bearish attack in yesterday’s trading, pressured by its fluctuations below the additional resistance extending toward $1650.00. As a result, the price has reached its initial main target at $1555.00.

 

The price may be forced to move sideways for some time. However, the main technical indicators are converging to signal negative momentum, increasing the likelihood of a renewed bearish attack. We expect the price to move toward $1510.00 and $1480.00.

 

The expected trading range for today is between $1510.00 and $1600.00

 

Trend forecast: Bearish