No escape for Platinum from moving lower – Analysis – 22-8-2019

Platinum price confirmed its surrender to the bearish bias domination by its repeated stability within the bearish channel levels, attempting to get advantage from the new negative pressures that come from stochastic below 50 level, and the stability of the moving average 55 near the main resistance at 860.00 level confirms the price confinement within the negative range in the near and medium period trading.

Therefore, we will keep waiting for forming a new negative attack that allows it to reach to the initial support at 790.00, note that breaking this support will open the way towards recording new negative targets that might begin at 749.00.

The expected trading range for today is between 860.00 and 790.00

The expected trend for today: Bearish.