Platinum threatens the positive stability– Analysis – 24-4-2018

Platinum price formed extra negative trading yesterday to reach below the support at 920.00 and providing negative close, stochastic rally above 50 level assists to provide clear pressure on the broken support, which supports the attempt of regaining the bullish bias.

But the continuation of the price fluctuation below the broken support until this moment makes us prefer the negative trading that targets 903.00 level reaching to 890.00 level, and the stability of the moving average 55 near 23.6% Fibonacci correction level at 930.00 confirms the suggested negativity, to increase the negative pressures until achieving the suggested targets.

Expected trading range for today is between 930.00 and 903.00

Expected trend for today: Bearish