Platinum’s recent price movements indicate a shift towards negativity, with expectations of further downward pressure. Currently hovering around $1015.00, the precious metal appears poised to test additional support levels in its bid to resume its downward trajectory. Analysts suggest that if this trend persists, platinum could potentially target $984.00, with a subsequent move towards $948.00.
This downturn follows a period of stability below the significant resistance level of $1080.00. Furthermore, the $1042.00 mark acts as an additional barrier, bolstering the likelihood of a bearish response to any stochastic attempts, thus facilitating a move towards the aforementioned negative targets.
In terms of expected trading ranges, analysts foresee a bracket between $1030.00 and $984.00, indicating the key support and resistance levels for traders to monitor.
Trend Forecast: Bearish