Platinum is under strong negative pressure– Analysis – 11-4-2017

Platinum price forced to provide new negative trading below the support at 940.00, to announce delaying the bullish attempts, to begin forming bearish correctional bias in the near period, the negativity caused by providing negative pressures by the main indicators, by the stability of the moving average 55 above the price trading and stochastic reach to the oversold level as appears in the above image.

Therefore, we expect the price fluctuation to the downside to expect reaching to 912.00 level, which forms the main target for the near trading, while providing new positive close above 950.00 level will turn it to the bullish range, to cancel the negative suggestion and to expect its rally to 980.00 again.

Expected trading range for today is between 950.00 and 912.00.

Expected trend for today: fluctuated negatively.