Platinum price affected by stochastic negativity– Analysis – 15-11-2022

Platinum price formed a new bearish wave yesterday, due to its repeated stability below 1040.00, to achieve the correctional target at 1005.00 and settles above it, note that stochastic attempt to provide negative momentum by exiting the overbought level that might force the price to renew the bearish correctional attempts, to increase the chances for reaching 975.00.

While renewing the bullish attempts requires forming strong bullish wave, to settle above 1040.00, reinforcing the chances for reaching new positive stations that might begin at 1075.00 and 1100.00.

The expected trading range for today is between 1035.00 and 980.00

The expected trend for today: Bearish