Platinum leans on the support– Analysis – 20-2-2017

Platinum price repeated sideways trading near the bullish channel’s support at 995.00, affected by the contradiction between the main indicators, which forces it to form an intraday sideways bias, reminding you that the bullish scenario depends on the stability of the current support, to wait for gathering the bullish momentum, and to begin achieving the waited targets at 1020.00 reaching to 1055.00.

The stability of the moving average 55 near 23.6% Fibonacci correctional level at 980.00 confirms the price confinement within the bullish range, which prevents it to form any unexpected negative attack until resuming the bullish attempts and achieving the suggested targets.

Expected trading range for today is between 995.00 and 1020.00

Expected trend for today: Bullish