Platinum Price Analysis: Forecast for 11-6-2024

by Jennifer

Today, on June 11, 2024, platinum price has reignited negative movements, leveraging the recent stability observed below the 50% Fibonacci correction level at $983.00. Notably, the price has approached the MA55, currently hovering near $955.00.

With stochastic indicators signaling continued negative momentum, there is an increased likelihood of the resumption of downward pressure. Analysts anticipate the imminent targeting of the $949.00 obstacle, with a potential breach opening the path towards the next major target at $920.00.


Expected Trading Range


Market expectations outline a trading range between the support level of $975.00 and the resistance level of $920.00.

Trend Forecast

The forecast for platinum trends remains bearish, with ongoing monitoring of market dynamics for potential adjustments.

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