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Platinum Price Awaits the Break – Forecast for July 11, 2024

The price of platinum has once again tested the $983.55 level and is currently encountering solid support. Traders are observing closely for a potential break below this level, which would confirm a continuation of the bearish bias with an initial target set at $950.00.

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Conversely, breaching the resistance at $1016.00 would invalidate the expected decline, potentially triggering recovery attempts and initiating a bullish wave targeting $1040.00.

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Today’s anticipated trading range is between $960.00 and $1000.00.

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Trend Forecast: Bearish

Market participants are advised to monitor price movements around the key support and resistance levels to assess the likelihood of further downward movement or a reversal in platinum prices.

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