Platinum faces the strength of the moving average – Analysis – 31-7-2019

Despite Platinum price facing frequent positive pressures on the bearish channel’s resistance at 877.00, facing the moving average 55 decreases the chances of moving to the bullish track, which allows us to start suggesting the negative attempts as long as the resistance line remains intact, targeting 790.00 followed by 749.00 in the upcoming period.

On the other hand, breaching the current resistance and providing positive close will confirm moving into new bullish track to ease the mission of recording many positive targets that start at 925.00 followed by reaching 1000.00.

The expected trading range for today is between 880.00 and 800.00

The expected trend for today: Bearish