Platinum price suffered strong negative pressures, which forced it to exit the bullish track by reaching the bullish channel’s support at 835.00, the stability of this barrier and forming a new resistance makes us prefer more of the negative attempts, to expect attacking 814.00 reaching 775.00 in the medium period trading.
Stochastic approach from the oversold level reinforces the negative attempts by providing strong negative momentum, which eases the attempt of reaching the suggested negative targets.
Expected trading range for today is between 835.00 and 814.00
Expected trend for today: Bearish