Platinum prices have come under renewed negative pressure as stochastic slipped below the 50 level, prompting the price to retest the additional support level once again, with trading currently fluctuating near $1515.00.

 

Holding above the $1510.00 support level could give the price an opportunity to renew its bullish attempts, gradually advancing toward $1560.00 and $1580.00. However, a break below support followed by a negative close would activate the bearish trend, exposing the price to further losses, initially targeting $1480.00 and $1440.00.

 

The expected trading range for today is between $1510.00 and $1580.00.

 

Trend forecast: Bullish