Platinum still waiting the negative momentum – Analysis – 26-6-2017

Platinum price didn't succeed to gather the negative momentum to force it to provide sideways trading within the bearish channel, while we remind you that the bearish scenario depends on the strength of 950.00 resistance, expecting to gather the negative momentum to resume the bearish attack and target 885.00 level that forms the first negative station, while the continuation of the negative pressure might push to extend losses towards 815.00.

The consolidation of the moving average 55 below the mentioned resistance reinforces the negative overview and confirms blocking the price within the negative range until gathering the required momentum to reach the suggested targets.

Expected trading range for today is between 950.00 and 885.00

Expected trend for today: Bearish