Platinum faces negative pressures – Analysis – 11-1-2021

Economies.com
2021-01-11 05:54AM UTC

Platinum price formed correctional bearish trades recently, affected by the stability of 1120.00 resistance in addition to stochastic exit from the overbought areas, to crawl below the initial support at 1045.00.

 

Facing continuous negative pressures allows us to suggest more bearish correction, to expect the attempt to reach 1010.00 followed by extending the intraday losses towards 61.8% Fibonacci correction level at 950.00.

 

The expected trading range for today is between 1070.00 and 1010.00

 

The expected trend for today: Bearish temporarily

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