The price of platinum has exhibited a predominance of bearish correctional waves, diverging from the resistance at $1085.00. This movement confirms a surrender to the prevailing bearish bias, as evidenced by a decline to the $1030.00 level, with attempts made to breach initial additional support.
The negative momentum indicated by stochastic analysis is anticipated to bolster the efficacy of the ongoing bearish correctional trajectory. As such, traders are advised to remain vigilant for potential further declines, with downside targets extending to $1015.00 and $1000.00.
Expected Trading Range:
The anticipated trading range is forecasted to oscillate between a support level of $1060.00 and a resistance level of $1015.00.
Trend Forecast:
The trend forecast remains decidedly bearish, reflecting the current market sentiment and trajectory of platinum prices.