Platinum price fluctuates below the barrier – Forecast today – 19-4-2024

Platinum Price Analysis

Expected Scenario

• The platinum price remains influenced by the $950.00 level, acting as an intraday barrier against bullish momentum.
• Sideways fluctuation near the $945.00 level indicates a reluctance to resume bullish bias, suggesting a surrender to correctional bearish pressure.
• There is a possibility of forming new negative waves, potentially targeting the MA55 support around $920.00.
• However, breaching the current barrier and stabilizing above it could signal a return to bullish sentiment, with initial targets at $987.00 and $1015.00.

Expected Trading Range

Between $955.00 support and $920.00 resistance.