Platinum moves slowly – Analysis – 2-6-2021

Platinum price still affected by the contradiction between the major indicators, to notice forming slow sideways trades by settling near 1195.00, noting that the stability of 1230.00 barrier supports our correctional bearish overview for the upcoming period, to keep waiting to target 1140.00 followed by reaching the main bullish channel’s support line at 1100.00.

We notice stochastic reach to 20 level, to increase the negative pressures and provide the chance to gather the required additional negative momentum to record the mentioned targets.

The expected trading range for today is between 1210.00 and 1140.00

The expected trend for today: Bearish