Platinum gathers new negative momentum – Analysis – 2-10-2017

Platinum price succeeded to gather new negative momentum by stochastic reach to the oversold areas, to reinforce our expectations of the bearish bias domination, while the price might face intraday obstacle around 900.00 that will force it to provide some sideways trading before reaching the main target around 880.00.

We should note that the continuation of the negative pressures and the price attempt to decline below 880.00 will push the price to settle within the bearish channel again, to continue suggesting the negative attempts and start targeting new levels that might begin at 820.00 in the upcoming period.

Expected trading range for today is between 938.00 and 880.00

Expected trend for today: Bearish