Platinum declines slowly – Analysis – 23-3-2021

Platinum price continued to form slow negative trades to reinforce the previously suggested correctional bearish track, reminding you that it is important to hold below 1230.00 barrier to increase the negative pressures on the price, expecting to target 1150.00 followed by reaching 38.2% Fibonacci correction level at 1105.00.

Stochastic continues fluctuation below 50 level will increase the negative pressures, allowing the price to gather new negative momentum to manage to achieve the suggested targets.

The expected trading range for today is between 1200.00 and 1150.00

The expected trend for today: Bearish