Platinum approaches from the support – Analysis – 23-10-2017

The negative pressures effect continued on Platinum price behavior, to approach from the support at 910.00, confirming delaying the bullish attack in the near period, therefore, we will keep the sideways suggestion valid if the main levels that represented by the mentioned support and the moving average forms strong obstacle near 945.00 level for today.

Note that the main targets depend on surpassing the mentioned levels, while surpassing the moving average 55 will reinforce the bullish bias domination, to target 980.00 level initially, while its decline below the current support will put it under string negative effect, to expect reaching 870.00 then attempt to regain the main bearish bias by its stability within the bearish channel levels that appear in the above image.

Expected trading range for today is between 910.00 and 946.00

Expected trend for today: sideways