Platinum presses on the moving average – Analysis – 3-10-2018

Platinum price trades extended bullishly to press on the moving average 55 that forms good barrier against the positive release attempts, while stochastic continuous positive momentum signals –approaching 80 level- increase the chances of achieving the required breach to expect rallying towards 855.00 level, to form the first station for now, followed by reaching 871.00 in the upcoming period.

On the other hand, failing to achieve the required breach will increase the chances of forming negative rebound, to target the key support at 801.00, followed by monitoring the price behavior due to the importance of this level to detect the next main trend.

Expected trading range for today is between 818.00 and 855.00

Expected trend for today: Bullish