Platinum price is slow – Analysis – 7-12-2018

Platinum price affected by forming an extra support at 775.00 level against the negative attempts, which forces it to provide slow trading by its fluctuation at 785.00, but stochastic decline to the oversold level increases the chances for gaining a new negative momentum, to increase the chances for achieving the required break, then wait for reaching 748.00, which forms the next target for the near period trading.

Note that the price attempt to rally above the barrier at 825.00, so that will confirm delaying the negative trading, which forces it to build a positive correction, increasing the chances for testing the bearish channel’s resistance at 890.00 for today.

Expected trading range for today is between 825.00 and 748.00

Expected trend for today: Bearish