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[Platinum]
Although the RSI(14) indicator is at a Neutral-Bullish level, but with both EMAs still forming a Death Cross, then selling pressure appears to dominate #PLF today.
Key Levels
1. Resistance. 2 : 2202.0
2. Resistance. 1 : 2159.5
3. Pivot : 2118.0
4. Support. 1 : 2075.5
5. Support. 2 : 2034.0
Tactical Scenario
Pressure Zone: If the price breaks down below 2118.0, this indicates potential pressure toward 2075.5.
Momentum Extension Bias: If 2075.5 is broken to the downside, Platinum could continue weakening to 2034.0.
Invalidation Level / Bias Revision
The downside bias is restrained if #PLF strengthens and breaks above 2202,0.
Technical Summary
EMA(50) : 2195.0
EMA(200): 2426.7
RSI(14) : 51.05
Economic News Release Agenda:
Tonight the United States will release the following economic data:
US - JOLTS Job Openings - Tentative
US - RCM/TIPP Economic Optimism - Tentative
US - Wards Total Vehicle Sales - All Day
US - API Weekly Statistical Bulletin - 04:30 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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