Platinum price awaits the negative momentum – Analysis – 5-6-2023

Platinum price provided some sideways fluctuation recently by settling near 1005.00, affected by the contradiction between the major indicators, to force it to postpone the main bearish attack temporarily, while the frequent stability below 1040.00 barrier allows us to wait to gather the additional negative momentum to ease the mission of resuming the previously suggested decline, to record the next negative target at 965.00.

On the other hand, rallying above the mentioned barrier will postpone the negative attack and open the way to form correctional bullish waves, to target 1072.00.

The expected trading range for today is between 1025.00 and 985.00

The expected trend for today: Bearish