Platinum price settles below the barrier – Forecast today – 9-5-2024

Platinum Price Analysis

Expected Scenario

• Platinum price kept its stability below 983.00$ barrier until this moment, to form solid obstacle against the attempts to resume the bullish attack and notice forming weak sideways fluctuation by settling at 980.00$.
• We expect to move within sideways track now, represented by the mentioned resistance and 950.00$ support line, thus, we will stay neutral until surpassing one of these levels.
• Note that surpassing the barrier will open the way to resume the bullish attack, to target 996.00$ as a first additional station, while breaking 950.00$ support will force the price to suffer big losses that might extend towards 918.00$ followed by reaching the major support at 905.00$.

Expected Trading Range

Between 965.00$ support and 996.00$ resistance.