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[Platinum]
Although the RSI(14) indicator is in the Neutral-Bearish level and a Bearish Divergence has appeared, both EMAs are still in a Golden Cross formation, which indicates that there is potential for a limited correction. However, the bias for Platinum remains strengthen.
Key Levels
1. Resistance. 2 : 1754.0
2. Resistance. 1 : 1730.5
3. Pivot : 1687.5
4. Support. 1 : 1664.0
5. Support. 2 : 1621.0
Tactical Scenario:
Positive Reaction Zone: If the price of #PLF strengthens and breaks above 1730.5, Platinum has the opportunity to test the level at 1754.0.
Momentum Extension Bias: If 1754.0 is broken, there is potential for the price to reach 1797.0 afterward.
Invalidation Level / Bias Revision:
The upside bias weakens if the price of Platinum declines below 1621.0.
Technical Summary:
EMA(50) : 1684.5
EMA(200): 1667.9
RSI(14) : 47.28 + Bearish Divergence
Economic News Release Agenda :
Tonight from the United States, the following economic data will be released:
US - Employment Cost Index q/q - 20:30 WIB
US - Crude Oil Inventories - 22:30 WIB
US - Federal FED Fund Rate - 02:00 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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