Platinum fluctuates below the resistance – Analysis – 01-06-2016

Platinum price still stable within sideways range below 980.00 resistance level, affected by the contradiction of the major indicators, to notice stochastic attempt to exit the oversold areas, while the moving average continues to settle above the price.

Therefore, we expect more sideways fluctuation on the near term basis until getting the negative momentum followed by forming negative attack to target 950.00 level, while we remind you that attempting to breach the current resistance will postpone the negative overview and provide correctional trading that targets 1020.00.

Expected trading range for today is between 980.00 and 950.00

Expected trend for today: Bearish