Platinum forms intraday negative rebound – Analysis – 20-4-2018

Platinum price lost its positive momentum yesterday due to stochastic sharp decline and settle within the oversold areas, noticing the price consolidation around 23.6% Fibonacci correction level at 930.00, to form an initial support against the negative fluctuations.

Also, we assure the importance of the support line stability at 922.00 that forms extension of the breached resistance, to form the key line between regaining the bullish bias or breaking it to force the price to suffer big losses, while for now, we will be waiting for the positive targets at 945.00 followed by 957.00 as long as the price remains stable within the bullish range.

Expected trading range for today is between 922.00 and 945.00

Expected trend for today: Bullish