Platinum gains new momentum – Analysis – 11-2-2019

Platinum price succeeded to gather a new negative momentum, affected by stochastic reach below 50 level, to notice forming an extra bearish wave and its stability at 790.00, and surpassing the obstacle at 775.00 is important to open the way towards recording extra bearish targets by reaching 748.00 reaching to 660.00 in the upcoming period trading.

Note that the stability of the barrier at 825.00 is important to keep forming an extra resistance that prevents the price from renewing the bullish correction moves, which increases the chances for resuming the waited bearish attack.

The expected trading range for today is between 810.00 and 748.00

The expected trend for today: Bearish