Platinum price remains under negative pressure, with the price currently attempting to stabilize below the support level at $1705.00, increasing the chances of activating the previously suggested bearish scenario. We reiterate the importance of a daily close below the current support, which would strengthen the chances of targeting $1660.00 and $1605.00 in succession in the near term.

 

However, a return to stability above $1705.00 would force the price into mixed trading, with room for some gains as it advances toward the key resistance level at $1840.00.

 

The expected trading range for today is between $1660.00 and $1740.00

 

Trend forecast: Bearish