Platinum provides new positive close – Analysis – 2-8-2017

Platinum price kept its positive stability above 930.00 level to confirm the preparation to form main bullish bias in the near term and medium term period, thus, we will keep waiting to move towards the initial target at 955.00 followed by extending trading to touch 23.6% Fibonacci correction level at 980.00.

We should note that attempting to break the current support and settling below the moving average 55 will push the price to fluctuate within the bearish channel again, to expect the negative attempts again, which target 886.00 first.

Expected trading range for today is between 930.00 and 955.00

Expected trend for today: Bullish