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Platinum Daily Technical Analysis | 28 December 2017

2017-12-28 09:29 am | Resource: Technical Analysis Section | No Views : 299

US Platinum broke the secondary bullish trend line on the 4 hour interval due to sellers' pressure on the psychological commodity and so far the commodity failed to breach the 918.84 resistance level.

Platinum Daily Technical Analysis | 28 December 2017

Currently, our neutral view of palladium trading prices due to the lack of confirmation of breaking the trend line and also due to the inability of the commodity to exceed the levels of the previous peak or bottom, and the simple moving average is still a support area respected by the bear so far.
Momentum Relative Strength 14 The bullish trend line breaks over the 4 hour interval during the trading session and is trading in a bearish direction in the configuration.
It is expected that if the Platinum crosses the $ 924.92 level, it might target the 945.69 areas on the other side. If the $ 908 breaks, the trend will be reversed and might target $ 881.21.
Support: 903.11- 891.12 - 872.02
Resistance: 918.84- 945.69 - 953.14
Trend: neutral


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