Platinum price was influenced by yesterday’s trading, gaining additional positive pressure as the stochastic indicator surged toward overbought levels. This forced the price to delay the expected bearish corrective move and achieve some gains, currently advancing toward $2170.00, where it faces the 55-period moving average.

 

We expect the price to form some sideways trading. If it remains below the barrier at $2210.00, it may start forming new bearish waves, attempting to reach $2080.00 and then $2015.00. On the other hand, a return to an upward trend would require a positive four-hour close above $2245.00.

 

The expected trading range for today is between $2080.00 and $2200.00

 

Trend forecast: Bearish