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.
The conflicting signals from the main indicators may push the price into some sideways trading. We will therefore wait for the price to gather negative momentum soon, paving the way for bearish waves targeting 210.10 initially, followed by another attempt to renew pressure on the obstacle at 209.10.
The expected trading range for today is between 210.10 and 211.65
Trend forecast: Fluctuating
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Platinum 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.
MoreEthereum (ETHUSD) maintained a series of sharp losses in its latest intraday trading, breaking below the $2,250 support level, which was a price target in our earlier analysis. This comes amid negative signals emerging from the relative strength indicators after the price managed to offload its oversold conditions, leaving room for further losses in the near term.
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