Platinum needs new momentum – Analysis – 2-8-2019

Platinum price did not succeed to record the main negative targets due to the lack of the negative momentum, to provide intraday sideways trades by settling around 850.00, expecting to gather additional momentum and getting negative close below 840.00 to target 790.00, and breaking this support will confirm moving to the next target at 749.00.

Stochastic stability below 80 level besides the consolidation of the moving average 55 above the current trades will reinforce the negative overview to increase the chances of gathering the required negative momentum to achieve the waited targets.

The expected trading range for today is between 865.00 and 790.00

The expected trend for today: Bearish