Platinum is slow – Analysis – 17-7-2018

Platinum price continued to provide slow negative trades recently, affected by stochastic stability above 20 level until this moment, while we will continue to suggest the bearish trend for the upcoming period, depending on the stability of 870.00 resistance, waiting to break 790.00 obstacle followed by starting to record new targets by reaching 748.00.

Any attempt to rally above the current resistance and getting positive close will confirm postponing the bearish attempts and start providing correctional bullish rally, targeting 960.00 as a first station, while facing new positive pressures might allow the price to test the bearish channel’s resistance at 1055.00.

Expected trading range for today is between 855.00 and 790.00

Expected trend for today: Bearish