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[Platinum]
Although the RSI(14) is in the Neutral-Bearish level, but with the position of EMA(50) above EMA(200), forming a Golden Cross, indicates that buyers remain dominant in Platinum.
Key Levels:
1. Resistance. 2 : 1759.7
2. Resistance. 1 : 1715.3
3. Pivot : 1689.2
4. Support. 1 : 1644.8
5. Support. 2 : 1618.7
Tactical Scenario:
Positive Reaction Zone: If the price of Platinum breaks out and closes above 1689.2, it may continue strengthening up to 1715.3.
Momentum Extension Bias: If 1715.3 is broken, #PLF has the potential to test the level at 1759.7.
Invalidation Level / Bias Revision:
The upside bias weakens if the price of Platinum breaks below 1618.7.
Technical Summary:
EMA(50) : 1677.3
EMA(200): 1632.4
RSI(14) : 39.83
Economic News Release Agenda:
Later tonight from the United States, several economic data releases are as follows:
US - RCM/TIPP Economic Optimism - Tentative
US - Wards Total Vehicle Sales - All day
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
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