Platinum returns to the sideways range – Analysis – 25-6-2020

Platinum price lost its positive momentum by stochastic decline below 50 level, to force the price to surrender to the domination of the sideways bias again, fluctuating near 800.00, while the current negative pressure might push the price to test the key support 765.00 before reaching any new positive target.

Also, the stability of the moving average 55 around 870.00 increases the negative pressures and postpones the bullish attack until testing the mentioned support, thus, we will suggest the bearish trend temporarily until gathering the additional positive momentum.

The expected trading range for today is between 850.00 and 780.00

The expected trend for today: Bearish