Platinum needs positive momentum – Analysis – 26-3-2020

Platinum price did not record and correctional positive target due to the lack of the positive momentum, to settle near 726.00 level, reminding you that the temporary bullish scenario depends on the stability of 710.00 level, to form initial support and assists to resume rising until reaching 790.00 in the upcoming period.

On the other hand, declining below the current support and holding below it will renew the domination of the bearish bias caused by the main consolidation within the bearish channel that appears on the chart, to expect suffering additional losses by reaching 660.00 followed by 550.00 levels.

The expected trading range for today is between 710.00 and 790.00

The expected trend for today: Bullish