Commodities

Platinum surpasses the first target – Analysis – 16-8-2019

2019-08-16 09:14:02 GMT (Economies.com)

Platinum price took advantage of the negative pressures to move away from the bearish channel’s resistance at 870.00, noticing surpassing the first target at 834.00, while the continuous negative pressures will increase the chances of reaching the initial support at 790.00, followed by monitoring the price behavior to manage to detect the next main targets.

 

Note that succeeding to break 790.00 and providing negative close below it will reinforce the continuation of the negativity to expect targeting new negative levels that might start at 748.00.

 

The expected trading range for today is between 850.00 and 790.00

 

The expected trend for today: Bearish

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