Platinum price was forced to incur further losses during yesterday’s trading, touching $1488.00 due to the negative signals from the Stochastic indicator. However, its current rebound above the support level at $1505.00 supports the chances of activating the previously suggested bullish corrective trend, with the price now trading around $1530.00.

 

The price needs fresh positive momentum to strengthen the chances of confirming the dominance of the bullish corrective trend, which could target $1560.00 and $1605.00. We reiterate that a renewed decline below support, followed by a negative close that will invalidate the corrective bullish outlook and force the price to incur further losses, reaching $1440.00.

 

The expected trading range for today is between $1500.00 and $1600.00

 

Trend forecast: Bullish