Platinum continues to crawl negatively – Analysis – 27-4-2017

No change at the intraday trend for Platinum price, as the main indicators continue to provide the negative momentum, noticing the negative crawling below 950.00 level recently, which supports the bearish attempts for the near term period, targeting 920.00 main support, followed by monitoring the price behavior to detect the next trend.

Stochastic approach from the oversold areas increases the negative pressure on the current trading, to ease the attempt of testing the mentioned support, while in case the negative pressure continued, that will force the price to decline below the targeted support, to move within new negative range, but it will push the price to suffer big losses that reach 850.00 initially.

Expected trading range for today is between 965.00 and 920.00

Expected trend for today: Bearish