Platinum confirms the continuation of the negativity – Analysis – 15-8-2018

Platinum price broke 790.00 barrier clearly yesterday to hint the preparation to form strong negative attack in the near term and medium term period, which confirms heading to target the first negative station at 748.00, noting that the continuous negative pressures will increase the chances of moving towards the next negative station at 680.00.

We notice that stochastic begins to form negative trades to increase the chances of gathering new negative momentum, also, the stability of the moving average 55 above the key resistance at 870.00 reinforces the negative overview until reaching the suggested targets.

Expected trading range for today is between 800.00 and 748.00

Expected trend for today: Bearish