Platinum hits the initial target– Analysis – 27-2-2017

Platinum price kept its stability within the bullish channel levels in its last trading, affected by the strength of the support at 990.00, to begin building new bullish attack to settle at 1025.00 recording the initial target in the previous reports, we expect the price attempt to record the targets in the near and medium period, to wait until reaching the resistance at 1055.00, then monitor the price behavior due to the importance of this level to detect the main trend in the futuristic period.

The stability of the moving average near the bullish channel’s support confirms the price confinement within the bullish range, which agrees with the stability of stochastic within the overbought level, to provide the required positive momentum for achieving the previously suggested target.

Expected trading range for today is between 1010.00 and 1055.00

Expected trend for today: Bullish