Platinum prices have resumed their downward trajectory, exerting significant pressure on the support level at 855.00. This support level was previously identified as the target in our recent reports.
It’s worth noting that stochastic oscillators continue to fluctuate within the oversold territory, which could contribute to the accumulation of additional downward momentum. This may enable prices to break below the current support and reach further downside targets at 820.00 and 790.00.
On the other hand, the stability of the 885.00 level is of considerable importance, as it acts as an additional barrier to confirm the continuation of the bearish trend in the medium term.
In summary, the expected trading range for platinum today is between 870.00 and 820.00, with a prevailing bearish trend.
