The pair’s price touched the 212.45 level during Friday’s trading before beginning to form a positive rebound due to the continued conflict between the main indicators. It is currently stabilizing near the broken support level represented by 213.50.
The price may be forced to show mixed trading in the current period; however, the continued formation of the 214.25 level as an additional resistance barrier prompts us to wait for the price to gather further negative momentum, which is required to resume corrective attempts. The price may first target the 55-period moving average, currently located near 212.20, and then attempt to pressure the additional support level around 211.80.
The expected trading range for today is between 211.80 and 213.80
Trend forecast: Bearish
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Platinum price returned to stabilize near the $1,655.00 level, affected by the negative pressures represented by the formation of the $1,780.00 level as an additional strong resistance barrier, along with the main indicators providing negative momentum during the recent period.
MoreCopper price has recently shown slow sideways trading, maintaining its position near the $6.3000 level, affected by the ongoing conflict between the attempt of Stochastic to provide negative momentum and the positioning of the 55-period moving average below the current trading levels, as shown in the attached chart.
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