Platinum still steady – Analysis – 29/7/2015

Platinum price still consolidating below 1000.00 level, while the sideways trading is caused by the contradiction of the major indicators, as the moving average 55 continues to support the stability of the bearish channel’s resistance at 1100.00, while stochastic rally above 50 level forced the price to settle within sideways track until getting the required momentum to reach the main target at 930.00.

We remind you that any attempt to rally above 1000.00 level will delay the negative attempts and begin showing bullish correctional bias to attempt to reach the above mentioned resistance.

Expected trading range for today is between 1000.00 and 930.00

Expected trend for today: Bearish