Platinum repeats the negative attempts – Analysis – 8-2-2019

Platinum price continued to form negative trades recently affected by the strength of 825.00 barrier, waiting to threat the stability of 775.00 support, while the price consolidation within the bearish channel will increase the chances of breaking the current support to move towards 748.00 that forms the next main station of the bearish bias.

Stochastic begins to form negative waves to agree the negativity of the moving average 55 by settling above 873.00 resistance, to increase the chances of gathering the required negative momentum to record the suggested targets.

The expected trading range for today is between 748.00 and 810.00

The expected trend for today: Bearish