Platinum price has once again entered a phase of slow, lateral trading, maintaining its proximity to the 910.00 level without manifesting any fresh bearish targets. This current lateral movement is primarily attributed to the absence of negative momentum, which is a result of a conflicting stochastic signal pointing towards overbought conditions.
This sideways trend could persist until the negative momentum gathers strength, potentially leading to a continuation of bearish closures below the added barrier at 950.00. It’s worth noting that the initial downward objectives lie around the 878.00 and 850.00 levels.
For today’s trading activity, the envisaged price range is forecasted to extend from the support level at 920.00 to the bearish target of 878.00.
Projected Trend for Today: Bearish
