Platinum is stuck – Analysis – 6-4-2017

Platinum price force to provide new sideways trading, where the moving average 55 forms a clear obstacle against the bullish attempts, while 940.00 level forms an extension for the main support, and its stability confirms the continuation of the positivity in the upcoming period, which makes us wait until gathering strong positive momentum that allows it to reach to the first positive target at 980.00, which increases the chances for resuming the bullish attempts, and  1010.00 level forms the next positive target in the near and medium period.

Note that platinum price attempt to decline below the mentioned support will cancel the bullish overview, to begin building new bearish bias, to expect targeting 930.00 initially then 9130.00 level, therefore, we should monitor the price behavior if it declines to the main support.

Expected trading range for today is between 950.00 and 980.00

Expected trend for today: Bullish