The platinum price exhibited further decline yesterday, maintaining its negative stance below the $1042.00 level. It reached the initial downside target at $1015.00 and settled close to this mark.
In order to facilitate a continuation of the downward trajectory and access new negative levels, the price requires a fresh infusion of negative momentum. Breaking through the current resistance barrier is imperative to ease the path for resuming the downtrend and targeting additional bearish levels, potentially extending towards $985.00, followed by a potential approach to the MA55 at $952.00.
Expected Trading Range:
The projected trading range for platinum is anticipated to fluctuate between $1030.00 and $985.00.
Trend Forecast:
The outlook for platinum remains bearish, with a prevailing trend indicating further downward movement in the near term.