Platinum repeats the bearish attempts – Analysis – 31-5-2017

Platinum price could not stop the positive attempts to be affected by the stability of the main bearish channel's resistance around 970.00, to repeat the negative attempts by moving towards 935.00, which allows us to suggest the negative domination for the near term and medium term period, expecting to decline below 925.00 to move towards the first negative target at 885.00.

Stochastic sharp decline below 50 level reinforces the expected negative domination again, to provide the price with strong negative momentum that allows it to resume the negative attack and achieve the waited targets.

Expected trading range for today is between 970.00 and 925.00

Expected trend for today: Bearish