Platinum is confined below the average– Analysis – 5-3-2018

Platinum price continued to provide negative trading, due to the stability of the moving average 55, which forms a good obstacle against regaining the bullish bias by its stability near 980.00, we expect renewing the negative trading until reaching 940.00, which forms the extension of a historical support as appears in the above image, then monitor its behavior due to the importance of this level to detect the main trend in the futuristic period.

Reminding you that the possibility of regaining the bullish bias depends on the price attempt to rally above 980.00 level, while achieving this condition will confirm its readiness to hit several positive levels that begin at 1022.00.

Expected trading range for today is between 985.00 and 940.00

Expected trend for today: Bearish