Platinum remains bearish – Analysis – 28-7-2017

Platinum price affected by the stability of the main resistance at 930.00 level, which forces it to provide new negative trading as appears in the above image, the stability of the moving average 55 near this resistance reinforces the negative pressures, which makes us expect reaching the first target at 886.00, and surpassing this barrier will extend the trading to record more of the negative targets that begin at 840.00.

Stochastic decline from the overbought level confirms surpassing the positive pressures, to begin providing extra negative momentum to support the bearish suggestion, which ease the attempt for reaching the waited targets.

Expected trading range for today is between 935.00 and 886.00

Expected trend for today: Bearish