Platinum Daily Technical Outlook

Spot Platinum has suffered major sell off testing low of 1013. Traders better watch for the month close before taking any stand on the metal as prices are vulnerable to lower prices. As of now, prices have taken support at 50 Day EMA 1013. Failure to hold above this level, metal can test 994 which is 200 SMA on H4 time frame chart and 982 which is 100 week SMA.

Oversold Stochastic reading of 0.00 on H4 chart can induce some bounce from the lows. 

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