The pair has continued to form weak sideways trades so far, amid ongoing conflicting signals from the main indicators, currently fluctuating near 176.25 and moving away from support at 174.90, which represents the key level for confirming the continuation of the bearish trend in the upcoming period.
The price may manage to achieve some intraday gains; however, its repeated stability below the additional resistance barrier at 177.80 keeps us committed to our bearish outlook for the coming trades. On the other hand, breaking above this barrier and holding above it would increase the chances of further gains toward 178.50 and 179.10.
The expected trading range for today is between 175.70 and 176.85
Trend forecast: Fluctuating
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The pair reacted to yesterday’s positive Stochastic signals by forming some upward trades, currently approaching 211.25. However, this will not affect the main bearish scenario, which remains valid as long as resistance holds near 212.00.
MorePlatinum prices have succumbed to repeated negative pressure, forcing the price to break below the $1505.00 support level and incur further losses, currently settling near $1450.00, as shown in the attached chart.
MoreCopper prices maintained their main bearish trend, with the price beginning to form negative trades and settling near the first target at $6.4200 benefiting from the negative factors, primarily the repeated stability below the $6.6100 resistance level, alongside the main indicators aligning to provide negative momentum signals.
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