Platinum prices have yielded to bearish pressures, with the primary factor being the inability to overcome the critical resistance at 985.00. This resistance, coupled with clear negative signals from the stochastic oscillator, has led to the price slipping below the MA55, ultimately touching the 922.00 level.
Furthermore, prominent indicators concur in presenting a negative momentum, signifying the potential for a renewed bearish onslaught. This could result in additional losses, with potential targets in sight at 895.00 and 878.00 levels in the near future.
The anticipated trading range for today is poised to fluctuate between the resistance level at 945.00 and the support level at 895.00.
In summary, the prevailing trend for today leans decisively bearish, with platinum prices failing to overcome critical resistance and the potential for further downside moves looming on the horizon.
