Platinum provides a negative close – Analysis – 22-3-2019

Platinum price ended its bullish rally by providing new negative closes below the bearish channel’s resistance near 860.00, easing the way for forming a new negative attack in the near and medium period, besides the moving average 55 above the current trading will increase the chances for the price decline to expect targeting 825.00 level initially reaching to 775.00.

We notice stochastic surpass to the overbought level, to confirm surpassing the positive pressures, to increase the chances for gathering the negative momentum, confirming the attempt for reaching the suggested negative targets.

The expected trading range for today is between 860.00 and 825.00

The expected trend for today: Bearish