Platinum Futures (PL1!) D1 | Approaching Multi-Swing-High Resistance
Platinum Futures (PL1!) D1 | Approaching Multi-Swing-High Resistance
Type:
Bearish Reversal
Key Levels:
Resistance: 1,046.00
Pivot: 1,024.90
Support: 991.10
Preferred Case:
Looking at the D1 chart, the price is rising towards a multi-swing-high resistance where it could stall again before reversing to fall towards the 1st Support at 991.10.
Alternative Scenario:
Price may break above the Pivot at 1,024.90 and rise towards the 1st Resistance at 1,046.00.
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Desmond Leong runs an award-winning research firm (The Technical Analyst finalists 2018/19/20 for Best FX and Equity Research) advising banks, brokers and hedge funds. Backed by a team of CFA, CMT, CFTe accredited traders, he takes on the market daily using a combination of technical and fundamental analysis.