Platinum Price Analysis Indicates Bearish Trend Forecast

by Daisy

Platinum prices have exhibited a downtrend, leveraging the recent stability below the 50% Fibonacci correction level at $983.00, with indications of approaching the MA55 around $955.00.

Continuing negative momentum in the stochastic indicates a higher probability of the bearish trend resuming, with a potential target of $949.00 expected in the near term. A breakthrough of this level could further bolster the likelihood of reaching the subsequent significant support at $920.00.


The anticipated trading range is projected to oscillate between the support level of $975.00 and the resistance level of $920.00.


In summary, the trend forecast for platinum remains bearish based on the observed price action and technical indicators.

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