Platinum prepares for the correctional decline – Analysis – 18-1-2021

Platinum price showed new negative close below the bullish channel’s resistance at 1126.00 to confirm surrendering to the correctional bearish bias domination by bouncing towards 1085.00, also, stochastic exit from the overbought areas will increase the chances of gathering the negative momentum to allow us to wait to record the correctional targets at 1025.00 and 975.00.

Note that succeeding to breach the current resistance and holding above it will reinforce the domination of the bullish bias and eases the mission of reaching new positive stations that start at 1195.00.

The expected trading range for today is between 1125.00 and 1025.00

The expected trend for today: Bearish