Platinum price postpones the rise – Forecast today – 16-4-2024

Platinum Price Analysis

Expected Scenario

• Platinum price repeated the negative closings below $987.00 barrier.
• To force it to postpone the bullish attack and provide new mixed trades by setting near $965.00 now.
• Stochastic decline below 50 level confirms the price surrender to the sideways bias.
• It is important to hold above the additional support $950.00 to decrease the chances of activating the negative attack and suffer many losses.

Expected Outcome

Succeeding to surpass $987.00 barrier and holding above it will ease the mission of recording the additional positive targets near $1015.00 and $1042.00.

Expected Trading Range

Between $960.00 support and $985.00 resistance.