Platinum price tends towards the negativity – Analysis – 30-5-2023

Despite the recent platinum price weak trades, its frequent consolidation near the MA55 confirms its surrender to the negative attempts, waiting to form new negative wave and move to the next negative level that might target 1000.00 followed by reaching the next main target at 965.00.

Now, stochastic fluctuation above 20 level might force the price to form additional sideways fluctuation until gathering the required negative momentum to achieve the suggested additional targets.

The expected trading range for today is between 1050.00 and 1000.00

The expected trend for today: Bearish