Platinum price declined below the 50% Fibonacci retracement level at $983, and tackled $955.60, and retested this barrier anew, while settling above the 55 SMA.

 

As major indicators conflict, the price will likely engage in sideways trading for some time, but a drop below the 55 SMA would activate the negative path and send the price towards $950.00, representing the 50% Fibonacci retracement level. 

 

Expected trading range today is between $950.00 and $985.

 

Today’s price forecast: Bearish