Platinum price continued to trade sideways with weak momentum, confined repeatedly between the resistance at $1,840.00 and the current support near $1,705.00, as shown on the attached chart.
We expect the price to continue forming mixed trades until surpassing one of the levels. A break above the resistance and stability above will allow the price to record further gains, initially targeting $1,880.00 and then the next target at $1,960.00. On the other hand, breaking the support would force the price to incur further losses, with $1,655.00 expected to represent the first bearish target.
The expected trading range for today is between $1710.00 and $1840.00
Trend forecast: Sideways
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