Platinum faces negative pressures – Analysis – 23-10-2018

Platinum price suffered strong negative trading, which leads it to form a bearish wave, to exit the minor bullish channel track by its fluctuation below the support level at 826.00, the continuation of the price fluctuation below the broken support makes us prefer more of the negative attempts, to increase the chances for reaching 790.00 reaching to the critical support at 775.00.

Stochastic sharp decline and its stability within the oversold level forms the main factor to confirm the suggested negativity in the near period by providing extra negative momentum, to confirm the attempt to reach the mentioned targets.

Expected trading range for today is between 823.00 and 790.00

Expected trend for today: Bearish