Platinum gets rid of the positive pressures – Analysis – 12-8-2019

Platinum price succeeded to get rid of the positive pressures caused by stochastic reach to 80 level by providing new negative close below the bearish channel’s resistance at 870.00, expecting to gather new negative momentum to increase the chances of moving towards 840.00 followed by attempting to press on the initial support 795.00.

On the other hand, facing new positive pressures and rallying above the current resistance will cancel the negative overview by settling within new bullish track to increase the chances of rallying towards 915.00 followed by 1000.00 levels in the upcoming period.

The expected trading range for today is between 870.00 and 840.00

The expected trend for today: Bearish