Platinum gets rid of the negativity – Analysis – 5-1-2017

Platinum price gained strong positive momentum in the last trading, which forced it to breach the resistance at 915.00, to end the domination of the negativity and to build a new bullish bias by reaching 950.00, the price might suffer from the strength of the moving average 55, to provide intraday sideways bias, waiting for gathering new bullish momentum that assists to resume the bullish attack, which targets 980.00 level initially, then wait until achieving the next target at 1020.00.

Stochastic reach to the overbought level reinforces the bullish suggestion, which provide the required momentum for resuming the bullish attack until achieving the suggested targets. 

Expected trading range for today is between 935.00 and 1020.00

Expected trend for today: Bullish