Platinum forms intraday negative rebound – Analysis – 17-10-2017

Platinum price failed to surpass the initial barrier at 964.00, due to the stability of the moving average 55 there, to force it to form an intraday negative rebound as appears in the above image, as long as the price settles above the support at 900.00, so the bullish scenario will remain valid, reminding you that breaching the current barrier will open the way towards recording more of the targets that begin at 980.00 and 1020.00.

Stochastic decline from the overbought level supports the intraday negative fluctuation, but that eases the way towards gathering new positive momentum in the near period, which assists to achieve the required breach and resuming recording the main targets.

Expected trading range for today is between 910.00 and 946.00

Expected trend for today: fluctuated.