Platinum repeats the negative attempts – Analysis – 5-12-2018

Platinum price continued to provide new negative trading in the last period, reinforcing the bearish bias domination to record 790.00 level, the stability of the price within the bearish channel levels makes us prefer more of the negative trading, which might target 748.00 level initially, which forms an obstacle against the last negative trading, reaching to 660.00 that forms a new negative target in the medium period.

Stochastic sharp decline and its attempt to reach below the oversold level agrees without expectation, by providing an extra negative momentum, to ease the attempt of recording the suggested targets.

Expected trading range for today is between 825.00 and 750.00

Expected trend for today: Bearish