Platinum prices staged some bullish corrective trades after touching the $1,595.00 level, which acted as an additional barrier against bearish pressure. The price is currently fluctuating near $1640.00. However, this rebound poses no threat to the bearish trend, as the $1740.00 level continues to act as the first main resistance barrier.

 

Based on the above, we will continue to wait for the price to gather additional negative momentum, enabling it to break $1595.00 and hold below this level. This would pave the way for further declines toward the next bearish targets at $1555.00 and $1510.00.

 

The expected trading range for today is between $1555.00 and $1675.00.

 

Trend forecast: Bearish