Platinum bounces positively – Analysis – 7/7/2015

Platinum price touched 1045.00 level yesterday to achieve the waited target and bounce positively affected by stochastic rally above 50 level, and that supports the attempt to get new negative momentum to keep the main bias bearish as long as 1090.00 level remains intact.

Note that breaking 1040.00 level will increase the negative pressure on the upcoming trading to expect suffering more losses reaching 1000.00 level that forms a psychological support barrier, followed by targeting 985.00 level.

Expected trading range for today is between 1075.00 and 1040.00

Expected trend for today: Bearish