Platinum declines calmly – Analysis – 29-3-2019

Platinum price ended its bullish rally by achieving the main target at 871.00, to test the main bearish channel’s resistance, while the upcoming sessions depends on the strength of this resistance, expecting the continuation of the price fluctuation below this level by attempting to form new negative trades to target 825.00 followed by 775.00 levels.

Rallying above the current resistance will confirm the preparation to form strong bullish trades by forming the double bottom pattern, to ease the mission of achieving new positive targets that might start at 890.00 followed by reaching 920.00 on the near term basis.

The expected trading range for today is between 870.00 and 825.00

The expected trend for today: Bearish