The pair's lack of positive momentum has led to some intraday bearish trading, with the price retesting the initial support level at 176.15 before holding above it, seeking to confirm its commitment to the bullish corrective scenario.
The price currently needs fresh positive momentum to facilitate a move toward the bullish targets, initially advancing toward 177.40 before attempting to renew pressure on the resistance level at 178.10. However, a break below the current support and sustained trading beneath it would force the pair into strong bearish trading, potentially driving it toward 175.50 and then testing support near 174.90.
The expected trading range for today is between 176.40 and 178.10.
Trend forecast: Bullish
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The pair continued to exhibit mixed trading amid repeated attempts to move above the 212.00 barrier, along with ongoing conflicting signals from the main indicators. Yesterday, the price slipped to 210.90 before beginning to form some bullish waves, currently trading near 211.50.
MorePlatinum prices have come under renewed negative pressure as stochastic slipped below the 50 level, prompting the price to retest the additional support level once again, with trading currently fluctuating near $1515.00.
MoreCopper prices have come under strong pressure at the $6.1000 support level, increasing the likelihood of the required break in the near term. The overall bearish outlook remains intact as long as prices hold below the $6.6100 resistance level, while $6.4200 continues to act as an additional barrier in recent trading.
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