Platinum price takes advantage of the moving average positivity – Forecast today – 22-4-2024

Platinum Price Analysis

Expected Scenario

• Platinum price started to get rid of the negative pressures by settling frequently above the MA55, which forms additional support at $920.00.
• Stochastic attempts to exit the oversold areas confirm getting rid of the negative pressures, suggesting some bullish waves that might target the $950.00 level. Surpassing this obstacle could push the price to $987.00 as the next main target.
• On the other hand, declining below the MA55 and providing a negative close below it will force additional losses, potentially reaching $908.00 followed by testing the major support at $898.00 before forming any new bullish rally.

Expected Trading Range

Between $925.00 support and $950.00 resistance.