Platinum prepares for strong decline – Analysis – 31-5-2019

Platinum price repeated the negative trades within the bearish channel to settle below the initial support 793.00, thus, we will keep suggesting the additional negative trades that target 749.00 level initially, while the continuous negative pressures might target 700.00 to form the second station of the bearish bias.

Stochastic current consolidation within the oversold areas reinforces our negative overview by providing new negative momentum to increase the chances of forming the negative attack and starting to achieve the suggested targets.

The expected trading range for today is between 800.00 and 750.00

The expected trend for today: Bearish