Platinum settles above the support – Analysis – 19-10-2018

Platinum price succeeded to provide new positive close above the bullish channel’s support at 823.50, confirming the preparation to renew the previously expected bullish attempts, also, stochastic reach to the oversold areas supports getting rid of the negative pressure to expect gathering the positive momentum now to rally towards 855.00, followed by targeting the bullish channel’s resistance at 880.00.

We remind you that attempting to crawl below the current support and getting negative close will confirm changing the main trend, to start targeting negative levels by moving towards 805.00 followed by reaching the key support at 780.00.

Expected trading range for today is between 823.00 and 855.00

Expected trend for today: Bullish