The pair maintained its stability within the prevailing bullish trend, supported by the continued formation of 0.5775 as an additional support level. This comes as the price responds to the positive signals from the main indicators, renewing pressure on the resistance level at 0.5910.
The aforementioned positive factors increase the chances of the price breaking above the current resistance, confirming its readiness to record further gains, initially targeting 0.5948 and then the next resistance level near 0.6000.
The expected trading range for today is between 0.5880 and 0.5948
Trend forecast: Bullish
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The pair has maintained its bearish stance, once again posting a negative close below the key 180.80 barrier. The price is currently fluctuating sideways near 179.00 as it attempts to counter the intraday positive momentum from the Stochastic indicator, increasing the chances of gathering fresh bearish momentum.
MoreThere is no change to the pair’s bearish path, as it continues to post repeated negative closes below the 210.40 barrier. The price is currently showing temporary sideways trading around 208.80, affected by conflicting signals from the main indicators, particularly as the Stochastic indicator approaches the 80 level.
MoreDespite platinum price continuing to trade sideways recently, its repeated hold above the $1,705.00 support level, along with stochastic attempting to provide positive momentum, may increase the chances of renewed upward attempts, with the price currently stabilizing near $1,780.00.
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