Platinum price remains affected by recurring negative pressures, represented by its overall stability below the main resistance level currently extending toward $1,940.00. In addition, the $1,865.00 level is forming another strong barrier, forcing the price to renew its bearish attempts, with the price currently positioned near the $1,645.00 level.

 

The availability of negative momentum will increase the chances of the price attacking the support level at $1,605.00 soon. A break below this level would strengthen the chances of resuming the bearish move, targeting $1,565.00 and then $1,490.00 respectively.

 

 

The expected trading range for today is between $1,565.00 and $1,700.00

 

Trend forecast: Bearish