Platinum affected by the indicators contradiction– Analysis – 29-12-2016

Platinum price couldn’t achieve any new target until this moment, affected by the continuation of the main indicators contradiction, to keep its sideways stability below the bearish channel’s resistance at 920.00 for today, in general, the bearish trend scenario will remain valid, depending on the stability of the current resistance, waiting for gathering new negative momentum, to open the way towards 870.00 level reaching the support at 830.00.

Note that the price attempt to breach the current resistance and providing positive close that will cancel the negative overview, to begin forming a bullish bias that targets 950.00 and 980.00 level.

Expected trading range for today is between 920.00 and 870.00

Expected trend for today: Bearish.