Platinum price reached $1557.00 level in its last corrective decline, then rallies again to settle above the extra support level at $1605.00, but this will not confirm its readiness to activate the bullish track again, due to its fluctuation below the resistance at $1695.00.

 

The continuation of providing negative momentum by stochastic will increase the efficiency of the bearish corrective track, to expect reaching $1575.00 and facing extra pressure might force it to target $1525.00 level, which forms an extra support against the current trading.

 

The expected trading range for today is between $1575.00 and $1670.00

 

Trend forecast: Bearish