Platinum provides intraday negative rebound – Analysis – 23-1-2018

Platinum price was affected by the stability of 1020.00 recorded high, to form intraday barrier against the bullish rally, in addition to stochastic crawl below 50 level that forces it to form intraday negative rebound as appears on the chart, but the price consolidation above 960.00 support line supports the domination of the bullish bias for the upcoming trading, which targets 1085.00 mainly after surpassing the current barrier.

The price might be forced to provide more mixed trades until achieving the required breach, to increase the chances of gathering the bullish momentum followed by reaching the waited positive target.

Expected trading range for today is between 960.00 and 1020.00

Expected trend for today: Fluctuated within the bullish range