Platinum hits the moving average 55 again– Analysis – 21-3-2017

Platinum price failed to record any new positive target due to the continuation of forming strong barrier at 967.00 by the moving average 55, to repeat the sideways fluctuation above the support at 950.00, we recommend the neutrality for today, to wait for the price to surpass the main levels, which allows us to detect the true trend in the upcoming trading.

Note that breaching the moving average 55 confirms the continuation of the positivity, which provides strong positive momentum to begin recording the targets at 980.00 reaching to 1010.00, while the continuation of the stability below the mentioned support will forces it to suffer several losses by reaching 913.00 that forms the initial negative target for the bearish bias.

Expected trading range for today is between 950.00 and 970.00

Expected trend for today: neutral.