Platinum resumes the negativity – Analysis – 30-5-2016

Platinum price affected by new negative pressures, which allows it to settle below the moving average 55, to get rid of the barrier at 980.00, which supports resuming the negativity in the upcoming trading, to attempt to test 50 % Fibonacci correction level at 950.00.

Stochastic reached the oversold level increases the negative pressure, to confirm the continuation of the negativity for the upcoming trading until achieving the suggested target.

Expected trading range for today is between 908.00 and 950.00.

Expected trend for today: Bearish.