Platinum price succeeded to resume the bullish attack yesterday, reaching the last target at $1223.00, facing 2.610% Fibonacci extending level, forming a significant resistance against detecting the main trend in the upcoming trading.

 

The stability below this resistance and stochastic exit from the overbought level, we expect forming some bearish correctional wave that might target $1180. 00 level reaching extra support at $1162.00, while breaching the resistance and holding above it will reinforce the chances for achieving extra gains that might extend to $1240.00 reaching the main bullish channel’s resistance at $1255.00.

 

The expected trading range for today is between $1185.00 and $1225.00

 

Trend forecast: Bearish