Platinum increases the chances to decline – Analysis – 19-3-2021

Despite Platinum price continuous fluctuation within the tight sideways track, the stability of 50% Fibonacci correction level and forming solid barrier at 1230.00 will increase the chances of starting the correctional bearish attack, to expect crawling below 1190.00 and reach the negative stations at 1160.00 followed by 1105.00.

Note that rallying above the current barrier and holding above it will cancel the negative overview to start forming new bullish trades that might extend towards 1300.00 and 1350.00 levels.

The expected trading range for today is between 1230.00 and 1160.00

The expected trend for today: Bearish