Platinum waits for the extra momentum – Analysis – 13-3-2017

Platinum price provided an intraday negative rebound in the last trading, to settle below 950.00 level that forms a good resistance against the current fluctuation, the intraday positive trading caused by stochastic rally to the overbought level, to increase the chances for gathering new negative momentum, to resume the negative attempts until reaching the waited target at 913.00.

We should mention that the price attempt to surpass the current resistance will delay the negative attempts, which forces the price to build bullish correctional bias that targets 980.00 level, then repeats the negative attempts that begin from this level.

Expected trading range for today is between 950.00 and 913.00

Expected trend for today: Bearish.