Platinum remains committed to its bullish corrective attempts, supported by its repeated stability above $1515.00. In addition, the Stochastic indicator has reached overbought territory, leading us to expect the price to attempt a test of $1610.00 in the near term. A break above this barrier could extend trading toward the next corrective target near $1580.00.
On the other hand, a decline below $1515.00 followed by a negative close would force the price into strong bearish trading, exposing it to further losses as it moves toward $1440.00 and then renews pressure on the barrier at $1385.00.
The expected trading range for today is between $1520.00 and $1610.00
Trend forecast: Bullish
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Copper confirmed its commitment to the previously suggested bearish scenario by closing below the additional resistance level at $6.4200 once again, forming several bearish waves and reaching $6.1660.
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