Platinum returns to test the resistance – Analysis – 8-8-2017

Platinum price remains stable below the resistance at 980.00, affected by the negative pressures that comes from stochastic attempt to surpass the overbought level, note that there a possibility to form sideways fluctuation in the near period until gaining the required momentum, which allows the price to surpass the current barrier and begin to record the main targets by reaching 1030.00.

While the stability of the mentioned resistance might force the price to form an intraday rebound to test the critical support at 930.00, to begin providing bullish trading to repeat the attempts of recording the suggested targets.

Expected trading range for today is between 935.00 and 886.00

Expected trend for today: Bearish