Despite platinum price continuing to trade sideways recently, its repeated hold above the $1,705.00 support level, along with stochastic attempting to provide positive momentum, may increase the chances of renewed upward attempts, with the price currently stabilizing near $1,780.00.

 

We emphasize the importance of the price breaking above the $1,840.00 barrier in the upcoming trading sessions and holding above it, as this would open the way toward positive targets that may begin at $1,880.00 and $1,960.00, respectively. However, failure to break above this barrier would force the price to continue trading sideways, with a renewed opportunity to test the support level.

 

The expected trading range for today is between $1,740.00 and $1,880.00

 

Trend forecast: Bullish