Platinum seeks additional momentum – Analysis – 28-12-2016

Platinum price forms an intraday positive fluctuation yesterday, affected by the contradiction between the main indicators, approaching from the bearish channel’s resistance at 920.00, the stability of this resistance makes us keep preferring the negative attempts in the near and medium period that targets 870.00 level, reaching the extended support at 840.00.

We should mention that the price attempt to breach the current resistance and providing positive close will cancel the negative overview, to begin forming a new bullish bias to target 950.00 and 980.00 level.

Expected trading range for today is between 920.00 and 870.00

Expected trend for today: Bearish