Platinum is restrained – Analysis – 7-3-2018

Despite the negative pressures provided by the major indicators, we notice that Platinum price consolidates within tight range recently, represented by 985.00 resistance and 940.00 support, expecting the price to move confined between the mentioned levels that support the domination of the sideways bias and wait to surpass one of these levels to manage to determine the next main targets.

We remind you that the price decline below the current support will confirm the bearish bias domination for the upcoming period, expecting to target 890.00 level first, while rallying above the initial resistance will increase the chances of regaining the bullish bias by providing positive pressure on 1025.00 level followed by extending trades towards 1085.00.

Expected trading range for today is between 985.00 and 940.00

Expected trend for today: Sideways