Platinum needs new positive momentum– Analysis – 20-2-2017

There is no news for Platinum price, by its continues affection by the negative pressures, which forces it to fluctuate near the moving average 55, we will keep our bullish suggestion by the stability of 980.00 level, to form strong support against the current fluctuation, waiting for the price to gain the required positive momentum to resume the bullish attempt, and to begin achieving the targets at 1020.00 and 1055.00.

Stochastic approach from 20 level forms the main factor for dallying the bullish attempts, but that increases the chances for gathering the bullish momentum in the near period, reminding you that the stability of the support at 980.00, to avoid any attempt to change the main trend in the near and medium period. 

Expected trading range for today is between 980.00 and 1020.00

Expected trend for today: Bullish