Platinum

[Samirofi]

Platinum below the resistance 18/11/2013



Platinum remains forming fluctuating bias but the price remains generally stable below the main resistance around 1472.00 for today, which makes us expect the negativity in the upcoming period to achieve 1410.00 then reaching to 1385.00

We notice the stability of the trading below the moving average 55, which provides negative pressure on the trading to remain waiting for achieving the previously suggested levels.

Expected trading range is between 1450.00 and 1410.00

Expected trend for today: bearish

[Samirofi]

Platinum achieves some losses 19/11/2013



Platinum remained stable below the moving average 55 to provide a bearish wave that allows it to rally to achieve 1401.00 achieving the previously mentioned initial target, therefore we continue expecting the negativity to visit the support level around 1383.00 which represents the main target for the near trading.

Stochastic returns to provide negative bias to support our bearish expectation to achieve the main suggested target.

Expected trading range is between 1425.00 and 1385.00

Expected trend for today: bearish

[Samirofi]

Platinum remains negative 20/11/2013



Platinum remains affected by the negativity to notice the stability of the price near 1412.00 to still wait for achieving the support level around 1383.00 in the near period, we notice the stability of the trading below the moving average to support the expected negativity to achieve the suggested target.

Stochastic keeps providing negative momentum by approaching from 20 level as appears in the above chart to remain waiting for achieving the initial target near 1383.00

Expected trading range is between 1420.00 and 1385.00

Expected trend for today: bearish

[Samirofi]

Platinum approaches the support 21/11/2013



Platinum price continued to show negative bias to notice reaching 1395.00 and approaching from the 1383.00 support line, which represents the main target for the near term trading, while the moving average negativity supports our bearish overview to keep waiting touching the current support line.

Note that breaking the support level will put more negative pressure on the upcoming trading and the main target will extend to 1340.00, which represents 38.2% Fibonacci as shown in the above chart.

Expected trading range is between: 1415.00 and 1385.00

Expected trend for today: Bearish

[Samirofi]

Platinum negotiates the support line 22/11/2013



Platinum price touched the support line 1386.050 yesterday to continue with the bearish bias effect as long as the 1460.00 resistance level remained intact, while the continuation of the negative scenario needs a break to the current support line to reach 1340.00 which represents the main target as expected in our previous report.

Note that in case the price failed to break the current support level, then the price will go for sideways range to be limited between 1386.00 and 1410.00 until getting the required negative momentum.

Expected trading range is between: 1410.00 and 1370.00

Expected trend for today: Bearish

[Samirofi]

Platinum attempts to show bearish bias 16/12/2013



Platinum price returned to settle around 1360.00 level, moving away from the moving average 55 as its affected by the negative bias, and we remind you again that resuming the general bearish bias needs a break to 1338.00 level which forms solid support against the price trading to begin reaching the waited targets.

Stochastic supports the bearish bias by settling around 20 level and offers bearish momentum, to stay waiting a break for 1338.00 support line to reach 1285.00 in the upcoming period.

Expected trading range is between: 1340.00 and 1380.00

Expected trend for today: Bearish

[Samirofi]

Platinum attempts to gather new momentum 23/12/2013



Platinum bounced from 1313.00 attempting to gather new momentum to support the domination of the bearish bias in the upcoming period if the main resistance level settled around 1420.00, which pushes us to continue expecting forming bearish wave in the upcoming period to achieve the waited target around 1285.00


Stochastic attempts to gather new momentum by settling negatively near 20 level to support the price attempt to achieve the previously suggested target.

Expected trading range is between 1342.00 and 1285.00

Expected trend for today: bearish

[Samirofi]

Platinum remains negative 24/12/2013



Platinum remains stable below 1338.00 which forms an obstacle against the trading decline, keeping the price affected by the negativity of the trading to remain waiting for achieving the initial target around 1285.00, to achieve the previous target the price needs a new negative momentum to support the continuation of the negativity effect in the near and medium period.

Stochastic attempts to get rid of the oversold level that might affect the trading move to provide a sideways bias until gathering the required momentum in the upcoming period.

Expected trading range is between 1338.00 1300.00

Expected trend for today: bearish

[Samirofi]

Platinum besides the resistance 9/1/2014



Platinum held in 1417.00 level to remain stable near the main resistance level of the bearish channel affected by Stochastic stability in the overbought level until this moment, therefore the price remains affected by the main bearish bias effect if the resistance level around 1427.00 until gaining a new bearish momentum in the upcoming period.

We must mention that the price succeed to breach the previous resistance level will push it to form positive bias to begin forming new levels that begin at 1455.00 reaching to 1520.00


Expected trading range is between 1457.00 and 1400.00

Expected trend for today: sideways

[Samirofi]

Platinum succeeds to breach 13/1/2014



Platinum remains affected by the positive trading pressure to notice the price succeed to breach the main resistance level of the bearish channel near 1425.00, which leads to form a bullish wave by recording 1439.00, therefore we will cancel the bearish overview to begin expecting the continuation of the price attempt to form a bullish wave with a near target located around 1462.00

Stochastic keeps providing positive momentum by keeping the stability in the overbought level as appears in the above image, which supports the positive trading in the near period.

Expected trading range is between 1427.00 and 1460.00
Expected trend for today: bullish