Platinum price tests the support – Analysis – 20-1-2023

Platinum price touched the extension of the bullish channel’s support line at 1010.00 and hold above it, while the upcoming scenario depends on the strength of the current support line, to expect the beginning of forming bullish waves to rally above 1040.00 level followed by attempting to reach the first positive target at 1072.00.

On the other hand, facing continuous negative pressures and crawling below the mentioned major support confirm moving to the bearish track, to expect reaching 990.00 first, followed by extending losses towards 965.00 as a first main target for the bearish track.

The expected trading range for today is between 1015.00 and 1040.00

The expected trend for today: Bullish