Platinum is forced to decline – Analysis – 25-4-2017

Platinum price is affected by some negative pressures due to the stability of 980.00 barrier that blocks the main bullish rally until this moment, while we notice the decline to touch 950.00 level and expect to settle below the moving average 55 to resume the decline until touching the main support at 920.00.

Also, stochastic approach from the oversold areas increases the negative pressure to provide the price with intraday negative momentum that allows us to suggest the negative attempts until reaching the main support, conditioned by the stability of 980.00 barrier.

Expected trading range for today is between 920.00 and 980.00

Expected trend for today: Bearish