Platinum confirms the positivity – Analysis – 3-3-2017

Platinum price delayed the bullish attempts by providing negative close below the bullish channel’s support at 1000.00, to suffer clear losses by reaching 980.00, we notice that fluctuation of the price generally near 23.6% Fibonacci correction level, to expect confining the trading between the current support and 1000.00 level, to suggest the neutrality until surpassing one of these levels.

The continuation of the negative pressure might force the price to break the current support, to suggest the bearish bias in the upcoming trading, to attempt to reach 950.00 which forms the main target for the bearish bias in the near and medium period.

Expected trading range for today is between 1000.00 and 980.00

Expected trend for today: neutral.