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Platinum Price Moves Within Tight Range – Forecast for June 18, 2024

Platinum Price Analysis

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The price of platinum has stabilized around the additional support level of $948.00, leading to a temporary positive rebound towards $975.00. However, it is anticipated to encounter resistance at $983.00, indicating a movement within a tight sideways range represented by these levels. The next trend will be confirmed upon surpassing one of these barriers.

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Breaking above the $983.00 barrier and maintaining position above it will increase the likelihood of forming bullish waves, with an initial target of $1015.00. Conversely, a decline below the support at $950.00 will confirm continued negativity, targeting $928.00 and $905.00 directly.

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Expected Trading Range

  • Support: $950.00
  • Resistance: $983.00

Trend Forecast: Sideways

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