Platinum surrenders to the sideways range again – Analysis – 21-11-2017

Platinum price declined yesterday below the moving average 55, which forces it to settle within the sideways range, to delay the expected bullish rally, and the stability of the support at 913.00 is important for reinforcing renewing the bullish attempts, reminding you that providing positive close above 940.00 level will allow it to record extra positive targets that might begin at 980.00.

Therefore, we will keep preferring the bullish bias domination by confirming the stability of the mentioned support, while the price reach below the support will forces it to build main bearish bias, targeting 890.00 initially reaching to 850.00 level in the upcoming period.

Expected trading range for today is between 913.00 and 960.00

Expected trend for today: Fluctuated within the bullish range