Platinum tests the resistance – Analysis – 17-8-2017

Platinum price attempted to form new positive rally yesterday to test 980.00 resistance, while we remind you that the stability of this resistance will increase the chances of forming correctional bearish trading in the near term period, waiting to move towards the moving average 55 around 940.00.

We should note that breaching the current resistance will bring the price back to settle within the bullish track again, to suggest the bullish bias domination that targets 1025.00 followed by 1080.00 level that represents 38.2% Fibonacci correction level.

Expected trading range for today is between 980.00 and 940.00

Expected trend for today: Bearish