Platinum postpones the bullish rally – Analysis – 28-2-2018

Platinum price suffered strong negative pressures, to reach below 985.00 level which formed the initial support in the last period, which supports the temporary negativity, and that might target the extension of the critical support at 940.00, then monitor the price behavior to detect the main trend in the futuristic period.

And that supports the price readiness for providing extra negative trading besides the stability of the resistance at 1022.00 that forms a main barrier against the positive rally, accompanied with stochastic fluctuation below 80 level provides new negative momentum, which increases the possibility for reaching the suggested target.

Expected trading range for today is between 985.00 and 940.00

Expected trend for today: Bearish