Platinum price suffers additional losses – Analysis – 24-11-2021

Platinum price resumed its negative attack by declining below 1010.00 level, to notice suffering additional losses and approaching 50% Fibonacci correction level at 950.00.

We expect to form sideways fluctuation to keep the consolidation within the bearish track that depends on the stability of 1040.00 barrier, also, we should note that succeeding to break 950.00 will force the price to target new negative levels that might extend towards 920.00 in the medium term period.

The expected trading range for today is between 1000.00 and 950.00

The expected trend for today: Bearish