The pair’s bearish trend remains unchanged despite forming some bullish corrective moves. Overall stability below the key resistance level at 212.00 supports the bearish outlook for upcoming trading.
We will continue to monitor the price’s response to the negative signals from the main indicators, as it is expected to renew pressure on the barrier at 209.10 before attempting to form new bearish waves, potentially putting support at 208.10 under renewed pressure
The expected trading range for today is between 208.10 and 210.50
Trend forecast: Bearish
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Platinum ended its recent bearish wave after encountering a historic support level near $1505.00, which has proven to be a strong barrier against further declines, forcing the price to enter sideways trading around $1525.00.
MoreCopper provided positive attempts, benefiting from trading above the 55-period moving average since yesterday. However, this does not confirm a recovery of the bullish trend unless the resistance level near $6.6100 is breached and the price stabilizes above it.
MoreEthereum (ETHUSD) has seen choppy trading in its latest intraday movements, benefiting from the stability of the pivotal $2,320 support level, gaining some positive momentum to counter the surrounding negative pressures. However, the price remains under bearish pressure as it trades below its EMA50, which acts as dynamic resistance and reinforces the dominance and stability of the main short-term downtrend. Meanwhile, a bearish crossover has begun to emerge on the relative strength indicators.
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