Platinum price presses on the moving average – Analysis – 26-5-2023

Platinum price renewed the negative attempts to notice providing strong pressures on the MA55 that forms additional support at 1020.00, assuring the importance of breaking this obstacle to open the way to reach the additional negative stations represented by 1000.00 followed by 965.00 levels.

In general, the bearish overview will remain valid as long as 1072.00 continues to form the additional barrier, decrease any attempt to change the main trend and start the correctional bullish track for now.

The expected trading range for today is between 1050.00 and 1000.00

The expected trend for today: Bearish