Platinum repeats the fluctuation below the resistance – Analysis – 21-10-2019

Platinum price remains affected by the intraday sideways bias domination that caused by forming an extra support at 880.00 by the moving average 55, to decelerate the suggested negative track, but the repeated stability below the resistance at 915.00 forms a main factor to confirm the bearish track that targets 845.00.

Note that the price attempt to rally above 915.00 level will make it cancel the bearish correctional overview by its move to a new bullish track, to increase the chances for its rally to 955.00 reaching 23.6% Fibonacci correction level at 1025.00.

The expected trading range for today is between 810.00 and 880.00

The expected trend for today: Bullish