Platinum tests the support – Analysis – 23-4-2018

Platinum price ended its negative rebound by testing the support at 920.00, to keep its stability above the bearish channel levels that appears in the above image, the continuation of the current support makes us prefer regaining the bullish bias, to expect reaching to the moving average 55 at 933.00, then extend the trading to 38.2% Fibonacci correction level at 945.00 level.

Stochastic reach to the oversold level decreases the negative pressures, which allows the price to confirm the stability within the bullish range, to begin gathering the required positive momentum to achieve the suggested targets.

Expected trading range for today is between 920.00 and 945.00

Expected trend for today: Bullish