Platinum provides an intraday negative rebound – Analysis – 10-2-2017

Platinum trading extended yesterday to record the initial target at 1020.00, which forms and initial barrier against the bullish attack, to forced it to provide an intraday negative rebound to settle within the bullish channel’s support at 995.00, the stability of the price above 2.6% Fibonacci correction level at 980.00 makes us keep preferring the domination of the bullish trading to wait for the price to rally towards the next target at 1055.00.

Stochastic surpass to the overbought level forms the main factor for the current rebound, which opens the way towards gathering new positive momentum in the near period, the resume the waited bullish attack 

Expected trading range for today is between 980.00 and 1020.00

Expected trend for today: Bullish