Platinum moves slowly – Analysis – 17-1-2018

Platinum price provided intraday sideways trading recently by consolidating around 1000.00, to keep its positive stability by moving away from 960.00 support, while the slow trading is caused by the lack of the positive momentum, which allows the price to provide more intraday sideways trading until gathering the required momentum followed by reaching the main targets at 1045.00 followed by 1105.00.

Stochastic attempt to decline from the overbought areas forms the main factor to postpone the waited bullish rally, but that increases the chances of providing new positive momentum to ease the attempts to resume the main attack in the medium term period.

Expected trading range for today is between 960.00 and 1020.00

Expected trend for today: fluctuated within the bullish range