Platinum prices have shown a period of consolidation in the recent trading sessions, hovering around the 910.00 mark. This consolidation has been influenced by the stochastic indicator’s departure from oversold conditions, which has temporarily stalled the previously anticipated downward momentum.
However, it’s important to note that the moving average MA55 continues to fluctuate near the key resistance level of 950.00. This underscores the prevailing bearish sentiment in the market. Traders are advised to remain cautious as we await the gathering of additional negative momentum, potentially facilitating a move towards significant support levels at 880.00 and 855.00.
For today’s trading outlook, experts suggest a trading range between 920.00 and 880.00, with a prevailing bearish trend.
Please keep in mind that trading decisions should be made prudently, considering the ever-evolving market conditions and seeking professional guidance.
Anticipated Price Trend for Today: Bearish
