Platinum price still bullish – Analysis – 5-12-2022

Platinum price formed new sideways trades due to the stability of 1040.00 barrier, to notice testing 1005.00 support line and hold above it, expecting to gather the additional positive momentum and breach the mentioned barrier to start targeting new positive stations that might start at 1070.00 and 1105.00.

On the other hand, crawling below the mentioned additional support will force the price to postpone the bullish attack, to form some correctional negative waves that might target 965.00 before reaching any new positive target.

The expected trading range for today is between 1010.00 and 1070.00

The expected trend for today: Bullish