Platinum fluctuates below the moving average – Analysis – 24-10-2018

Despite Platinum price renewing the bullish attempts, its consolidation below the moving average 55 increase the chances to surrender to the correctional bearish bias in the near term and medium term period, thus, we will keep waiting to move towards 790.00 that represents the first negative station, while the continuous negative pressures might extends trades towards 775.00.

The chances to regain the bullish bias will appear by getting positive close above 840.00 level, to confirm getting rid of the correctional bearish bias domination and start targeting positive levels by rallying towards 855.00 followed by 871.00 levels.

Expected trading range for today is between 840.00 and 790.00

Expected trend for today: Bearish