Platinum loses momentum – Analysis – 17-7-2017

Platinum price fluctuates near 920.00 level and keeps its stability below the most important resistance at 935.00, to keep the negative pressure valid until now, where the EMA50 meets the mentioned resistance to strengthen it, while stochastic shows clear overbought signals.

Therefore, we wait for negative trading on the intraday and short term basis, and the targets begin by breaking 886.00 to open the way towards 845.00 then 815.00, reminding you that holding below 935.00 is important for the continuation of the expected bearish trend.

Expected trading range for today is between 935.00 and 886.00

Expected trend for today: Bearish