Platinum begins to form a new bullish rally– Analysis – 16-2-2017

Platinum price ended its negative fluctuation by providing positive close above 23.6% Fibonacci level that forms a strong support at 980.00 level, the trading extends to the upside currently near 1010.00, to confirm the continuation of the positivity in the upcoming period, to confirm the importance of surpassing the barrier at 1020.00, to open the way towards recording the waited target at 1055.00.

Stochastic form to a bullish rally and its stability above 50 level supports our bullish suggestion, to provide the required momentum to resume the bullish attack until reaching the suggested targets.

Expected trading range for today is between 1000.00 and 1055.00

Expected trend for today: Bullish