Platinum Price Analysis
Expected Scenario
- Platinum price started to get rid of the negative pressures by settling frequently above the MA55, which forms additional support at $920.00.
- Stochastic attempts to exit the oversold areas confirm getting rid of the negative pressures, suggesting some bullish waves that might target the $950.00 level. Surpassing this obstacle could push the price to $987.00 as the next main target.
- On the other hand, declining below the MA55 and providing a negative close below it will force additional losses, potentially reaching $908.00 followed by testing the major support at $898.00 before forming any new bullish rally.
Expected Trading Range
Between $925.00 support and $950.00 resistance.
Trend Forecast: Bullish