Platinum confirms the positivity – Analysis – 31-5-201620-5-2016

Platinum price lost its negative momentum yesterday, due to stochastic move from the oversold level, which pushed it to retest the broken support at 980.00, by the above image we notice the attempt of supporting the moving average, for the stability of the broken level, to reinforce the domination of the negativity, to keep waiting for gathering new negative momentum then reaching the waited target at 950.00 in the near period.

Note that the attempt to breach the moving average 55 will delay the negative overview, to begin to form positive correctional wave to extend the trading towards 1020.00 before recording the waited negative targets.

Expected trading range for today is between 908.00 and 950.00.

Expected trend for today: Bearish.