Platinum hovers around the first target – Analysis – 16-8-2018

Platinum price confirmed its affection by the bearish bias domination by forming strong negative attack to approach the first negative target at 748.00, while the price consolidation within the bearish channel allows us to suggest more negative attempts, expecting to decline below the current barrier to target 680.00 level that will form the next negative station.

On the other hand, the stability of 748.00 level against the negative trades might force the price to form intraday sideways fluctuation to allow us to wait to gather the additional negative momentum with chances to test 800.00 level again.

Expected trading range for today is between 800.00 and 748.00

Expected trend for today: Sideways