Commodities

Platinum moves towards the resistance – Analysis – 20-3-2019

2019-03-20 07:13:13 GMT (Economies.com)

Platinum price continued to form correctional bullish trades to approach the main bearish channel’s resistance at 860.00, while the stability of this resistance forms the main factor to renew the negative attempts in the near term and medium term period, expecting to decline towards 800.00 followed by pressing on 775.00 barrier.

 

On the other hand, facing the negative pressures and attempting to rally above the current resistance will confirm the preparation to build strong bullish trades to target 885.00 followed by 922.00 levels.

 

The expected trading range for today is between 860.00 and 800.00

 

The expected trend for today: Bearish

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