Platinum price resumes the negative correction – Forecast today – 18-4-2024

Platinum Price Analysis

Expected Scenario

• Platinum price faced new negative pressures, leading to a resumption of correctional decline below the additional support at 950.00$.
• Additional losses were observed, settling near 935.00$.
• Correctional trades might extend towards 920.00$ soon.

Expected Outcome

Platinum price faced new negative pressures yesterday to force it to resume the correctional decline by crawling below the additional support at 950.00$, suffering additional losses by settling near 935.00$.

The correctional trades might extend towards 920.00$ soon, to face the MA55 and wait to gather the positive momentum again to ease the mission of activating the bullish track and start targeting the positive stations that start at 960.00$, followed by reaching 987.00$ barrier.

Expected Trading Range

Between 955.00$ and 920.00$.