Platinum approaches the moving average 55 – Analysis – 4-9-2020

Platinum price formed new negative rebound to approach the moving average 55 that forms additional support at 870.00, while the stability of the current support will increase the chances of gathering the additional positive momentum to expect rallying towards 980.00 in order to find an escape to resume the positive in the upcoming period.

Note that crawling below the current support and holding below it will confirm postponing the bullish attack, to expect forming new negative trades to suffer more losses by declining towards 810.00 followed by reaching the key support 745.00.

The expected trading range for today is between 870.00 and 950.00

The expected trend for today: Bullish