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[#PLF]
Platinum's technical indicators show weakness, starting from a Death Cross of the both EMAs and RSI(14) in the Neutral-Bearish level, so there is a high probability that #PLF will weaken today toward its nearest support level.
Key Levels
1. Resistance. 2 : 2221.3
2. Resistance. 1 : 2185.2
3. Pivot : 2137.3
4. Support. 1 : 2101.2
5. Support. 2 : 2053.3
Tactical Scenario
Pressure Zone: If the price of #PLF fails to break and close above 2137.3, there is potential for renewed pressure toward 2101.2.
Momentum Extension Bias: If 2101.2 is broken to the downside, #PLF may attempt to test the next support at 2053.3.
Invalidation Level / Bias Revision
The downside bias is restrained if #PLF strengthens and breaks above 2221.3.
Technical Summary
EMA(50) : 2117.2
EMA(200): 2164.6
RSI(14) : 34.38
Economic News Release Agenda:
There are no economic data releases from the U.S. market session today.
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
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