Platinum is weak – Analysis – 25-10-2018

Platinum price still weak, to increase the chances of resuming the negative fluctuation by settling below the moving average 55, also, getting frequent negative closings below 840.00 barrier increases the chances of targeting negative levels around 790.00 and 775.00.

We should note that succeeding to gather additional negative momentum in the near term period and attempting to crawl below 775.00 level will reinforce the domination of the bearish bias for the upcoming period to expect attacking 748.60 that formed solid obstacle against the negative attack recently, while breaking this barrier will hint the preparation to achieve more additional targets.

Expected trading range for today is between 840.00 and 790.00

Expected trend for today: Bearish