Platinum provides negative stability– Analysis – 27-12-2016

Platinum price confirmed the domination of the bearish bias by providing repeated negative closes below the extended bearish channel’s resistance at 920.00, which makes us wait for forming new negative attack in the near and medium period, the first target will remain stable at 870.00, and breaking it will attract the price to the main support at 538.00.

Stochastic attempt to surpass the oversold level might force the price to provide intraday sideways trading until gathering the negative momentum, then resuming recording the targets as we expected previously.

Expected trading range for today is between 920.00 and 870.00

Expected trend for today: Bearish.