Platinum prices have succumbed to repeated negative pressure, forcing the price to break below the $1505.00 support level and incur further losses, currently settling near $1450.00, as shown in the attached chart.

 

The continued negative momentum signals from the main indicators, coupled with the $1565.00 level extending the current resistance, will reinforce the bearish trend. We therefore expect the price to break below the obstacle around $1440.00 soon, paving the way for further gradual declines toward the next targets at $1400.00 and $1365.00.

 

The expected trading range for today is between $1400.00 and $1500.00

 

Trend forecast: Bearish