Platinum begins to decline – Analysis – 12-7-2018

Platinum price started to form new negative trades, confirming keeping the bearish attempts, caused by its consolidation below 870.00 resistance, while we expect the price to move towards 790.00 now, and the continuous negative pressures will extend trading towards 748.00 level that will form the first main station of the medium term bearish bias.

Stochastic attempt to form new negative wave supports the negative overview and provides the price with additional negative momentum to manage to achieve our suggested targets.

Expected trading range for today is between 855.00 and 790.00

Expected trend for today: Bearish