Platinum gets rid of the negativity – Analysis – 29-5-2017

Platinum price managed to provide new positive close above 950.00 on Friday that formed solid resistance recently, while the stability of the breached resistance and forming new support confirms the preparation to build bullish bias in the near term and medium term period, expecting to rally towards 980.00 followed by 1010.00 in the upcoming period.

Stochastic approach from 80 level increases the chances of gaining the positive momentum to agree with the stability of the moving average 55 around the current support to confirm the price forming the expected bullish attack.

Expected trading range for today is between 950.00 and 980.00

Expected trend for today: Bullish