Platinum is forced to intraday decline – Analysis – 15-8-2017

Platinum price provided negative close yesterday below 980.00 resistance, to postpone the bullish rally and had to suffer some losses by settling around 960.00 level, while we should note that the continuation of the current fluctuation below 965.00 will support forming correctional bearish trading to attempt to test the moving average 55 at 940.00 followed by reaching the main support at 925.00.

Stochastic approach from the oversold areas increases the negative pressures on the current trading, allowing us to suggest the correctional bearish bias conditioned by the stability of 980.00 resistance.

Expected trading range for today is between 980.00 and 940.00

Expected trend for today: Bearish