Platinum chooses the bearish bias – Analysis – 7-3-2017

Platinum price provided strong negative attack to surpass the support at 980.00, to begin building bearish bias due to its stability below 23.6% Fibonacci level, which makes us prefer more of the negative attempts, to wait for the price attraction towards 950.00, and that forms the first target in the near and medium period.

Stochastic sharp decline and its stability within the oversold level increases the negative pressure, which supports the continuation of the negativity, and that provides the required momentum for achieving the suggested target.

Expected trading range for today is between 980.00 and 950.00

Expected trend for today: Bearish