Platinum price affected by new support – Analysis – 11-12-2018

Platinum price was affected by 775.0 level forming additional support line recently, to block the waited negative attack, while the price consolidation within the main bearish channel and settling below 825.00 barrier allows us to wait to break the current support and renew the attempts to reach the main negative levels at 748.00 followed by 660.00.

Stochastic recent decline and settling within the oversold areas reinforces the negative overview by providing new negative momentum and increases the chances of achieving the waited break.

Expected trading range for today is between 800.00 and 748.00

Expected trend for today: Bearish