Platinum heads to change the main trend – Analysis – 26-5-2017

Platinum price returned to provide new positive trading to push on the resistance at 950.00 as we mentioned in the above image, the continuation of the positive pressure might allow the price to change the main trend by its rally above the current resistance, especially surpassing the moving average 55, to open the way towards recording several positive targets that begin at 980.00.

The stability of the resistance confirms the bearish bias domination in the upcoming trading that targets 885.00 level reaching 815.00, which makes us suggest the neutrality in the current period and wait for the next close in the four hours’ time frame, to detect the true trend in the upcoming period.

Expected trading range for today is between 965.00 and 920.00

Expected trend for today: Neutral