Platinum seeks additional momentum – Analysis – 10-8-2017

Platinum price touched the initial target at 980.00 to be forced to form intraday negative rebound by lacking the bullish momentum, while we expect forming intraday sideways trading until gaining the required momentum to manage to surpass the current psychological barrier and resume recording gains by reaching 1000.00 followed by 1030.00.

Stochastic attempt to exit the overbought areas forms main factor to the price current fluctuation, noting that there is a chance to test 965.00 now followed by renewing the bullish attempts and achieve the required breach.

Expected trading range for today is between 965.00 and 980.00

Expected trend for today: Fluctuated within the bullish range