Platinum price faced strong bullish pressures yesterday, benefiting from forming a new support level at $1685.00 level, besides providing positive momentum by the main indicators, to attack $1785.00 resistance to find an exit to confirm its move to the bullish trend in the near period trading.

 

The price attempt to settle above the moving average 55 will increase the chances of forming new bullish waves, to expect targeting $1865.00 level, reaching the next barrier near $1900.00, while holding below $1785.00 level and providing a negative close will force it to renew the bearish attempts by reaching $1730.00 initially.

 

The expected trading range for today is between $1770.00 and $1865.00

 

Trend forecast: Bullish