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Platinum Daily Technical Analysis | 15 December 2017

2017-12-15 09:16 am | Resource: Technical Analysis Section | No Views : 289

Platinum broke through the bearish trend during the US session yesterday as palladium rebounded from 872.02 to 891.12.

Platinum Daily Technical Analysis | 15 December 2017

Our view is neutral on Platinum trading as a result of the lack of confirmation of the breakout which we mentioned above and the simple moving average is overlapping with the movement of the commodity.
Momentum The Relative Strength 14 is still trading in a bearish direction over the interval of 240 minutes, and currently a positive technical divergence is seen in the formation between the index and the commodity.
It is expected that, if Platinum is broken, the level of 872 $ may target the 853 areas on the other side if the breach of 891 areas may target the level of 912 $.
Support: 872.02 - 852.86 - 840.52
Resistance: 891.12- 903.11 - 918.84
Trend: neutral


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