By Anton Eljwizat
Platinum prices rose significantly in the last two weeks and peaked at $1845 an ounce. And now, there appears to be a recent bearish cross on the 4-hour chart’s Stochastic (slow) and MACD, highlighting significant downward momentum building on this commodity’s price. In addition, the Relative Strength Index (RSI) has the price floating in the over-bought region, suggesting that more pressure is on the way. Forex traders may want to take this opportunity to catch the downward correction on Platinum, which appears to be imminent.
Forex Market Analysis provided by ForexYard.
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