Platinum gains new momentum – Analysis – 21-7-2021

Platinum price gathered new negative momentum after stochastic reach to the oversold areas, to reinforce the domination of the bearish bias that depends on the stability of 1145.00 resistance.

Also, 1105.00 forms additional barrier to confirm blocking the price within the bearish track, waiting to reach 38.2% Fibonacci correction level at 1035.00, while surpassing it might extend losses in the upcoming period towards 980.00 and 947.00 levels.

The expected trading range for today is between 1085.00 and 1035.00

The expected trend for today: Bearish