No change to platinum price positivity – Forecast today – 5-4-2024

Platinum Price Analysis

Expected Scenario

• The platinum price was affected by stochastic exiting from the overbought areas.
• This caused a postponement of the bullish attack, with fluctuations near the initial support of $920.00.
• This decline, however, does not pose a threat to the bullish track, relying on the stability of the major support at $895.00 to confirm positivity continuation.

Expected Outcome

Therefore, the focus remains on gathering positive momentum to facilitate activating the bullish attack and targeting $950.00.

Surpassing this level is crucial to opening the way to reach additional stations, potentially starting at $965.00 and $983.00.

Expected Trading Range

Between $920.00 support and $950.00 resistance.