Platinum awaits the breach – Analysis – 21-4-2017

Platinum price continued to provide weak sideways trading affected by the stability of 980.00 barrier, which forms good barrier against the waited bullish rally, thus, the sideways expectations will remain valid until the price manages to surpass the current barrier and confirm regaining the bullish bias that targets 1010.00 followed by 1080.00 in the upcoming period.

Stochastic negativity that consolidates now below 50 level blocks the bullish attempts, to force the price to renew the sideways fluctuations between the current resistance and 950.00 initial support, thus, we recommend waiting the breach to avoid any losses that might appear by the price negative rebound to test the mentioned support.

Expected trading range for today is between 950.00 and 980.00

Expected trend for today: Sideways