Platinum still negative – Analysis – 8-6-2017

Platinum price confirmed the affection by the bearish bias domination to notice forming new negative wave after testing the bearish channel's resistance around 966.00, while we notice the moving average 55 attempt to push negatively by consolidating above the current price, which allows us to wait to reach the main negative targets around 885.00 followed by 815.00.

Stochastic exit from the overbought areas confirms getting rid of the positive pressures, attempting to provide the required negative momentum to resume the bearish attack in the near term and medium term period until reaching our targets.

Expected trading range for today is between 966.00 and 885.00

Expected trend for today: Bearish