Platinum begins the positive correction – Analysis – 4-10-2017

Platinum price failed to break the initial support at 900.00 until this moment, which forms clear obstacle against the negative rally, while the price is forced to show correctional bullish trading affected by the stability of the current support besides stochastic positive momentum signals, which exits the oversold areas.

Therefore, we will start suggesting the correctional bullish bias to expect rallying towards 950.00 first, to test the moving average 55, and breaching this level will extend trading towards 985.00, while breaking the current support will confirm resuming the negative trading that targets the key support at 880.00.

Expected trading range for today is between 900.00 and 950.00

Expected trend for today: Bullish