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[Platinum]
With both EMAs beginning to form a Golden Cross and the RSI positioned in the Neutral-Bullish level, then today Platinum has the potential to strengthen.
Key Levels:
1. Resistance. 2 : 1584.0
2. Resistance. 1 : 1571.0
3. Pivot : 1549.0
4. Support. 1 : 1536.0
5. Support. 2 : 1514.0
Tactical Scenario:
Positive Reaction Zone: If the price of #PLF successfully breaks out and closes above 1571.0, it may have the opportunity to test 1584.0.
Momentum Extension Bias: If 1584.0 is broken and closed above, Platinum could test the level at 1606.0.
Invalidation Level / Bias Revision:
The upside bias weakens if the price of Platinum weakens and breaks down below 1514.0.
Technical Summary:
EMA(50) : 1544.2
EMA(200): 1544.8
RSI(14) : 59.56
Economic News Release Agenda:
Tonight from the United States, several economic data releases are scheduled as follows:
US - Core PPI m/m - 20:30 WIB
US - Core Retail Sales m/m - 20:30 WIB
US - PPI m/m - 20:30 WIB
US - Retail Sales m/m - 20:30 WIB
US - HPI m/m - 21:00 WIB
US - S&P/CS Composite-20 HPI y/y - 21:00 WIB
US - Pending Home Sales m/m - 22:00 WIB
US - Richmond Manufacturing Index - 22:00 WIB
US - Business Inventories m/m - 22:00 WIB
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
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