Platinum price tests the barrier – Analysis – 6-6-2023

Platinum price faced sudden correctional positive pressures yesterday cased by stochastic rally above 50 level, to force it to form correctional bullish rebound and approach 1040.00 barrier.

The current scenario depends on the strength of the current barrier, as its stability allows us to expect renewing the negative attempts to attempt to decline towards 1010.00 followed by reaching the first additional target at 985.00, while facing continuous positive pressures might force it to resume the correctional bullish attempts and surpass the current barrier to ease the mission of recording additional gains that might extend towards 1072.00.

The expected trading range for today is between 1040.00 and 1010.00

The expected trend for today: Bearish