Platinum prices remain influenced by stochastic indicators reflecting positivity, signaling a resurgence of the bullish correction, as evidenced by the recent climb towards the 905.00 level, which has emerged as an additional resistance barrier. This development reinforces the likelihood of persisting with the earlier projected bearish sentiment.
We anticipate the emergence of a period characterized by mixed sideways trading, owing to the prevailing stability within the primary bearish channel. It’s worth noting that the consistent maintenance of levels below the critical resistance at 932.00 remains the principal factor upholding the bearish outlook. Consequently, we will be monitoring the accumulation of negative momentum to support the formation of bearish waves, with an initial target at 880.00, followed by renewed pressure on the 855.00 support line.
The expected trading range for the day is positioned between 920.00 and 880.00. The prevailing trend for today is expected to be bearish.
