Platinum touches the first target – Analysis – 17-5-2019

Platinum price continues to crawl negatively recently to notice reaching the first negative target at 825.00, while the price stability within the bearish channel besides the stability of 890.00 resistance will increase the chances of resuming the negative attack by breaking the current support to wait reaching 790.00 and 749.00 levels.

Stochastic consolidation within the oversold areas reinforces our bearish overview by providing new negative momentum to increase the chance of breaking 825.00 obstacle and attempt to touch the suggested additional targets.

The expected trading range for today is between 835.00 and 790.00

The expected trend for today: Bearish