Platinum Futures (PL1!) H4 | Potential Bullish Bounce
Type:
Bullish Bounce
Key Levels:
Resistance: 981.00
Pivot: 953.50
Support: 938.10
Preferred Case:
Looking at the H4 chart, the price is approaching a pullback support where it could stabilize before making a bullish bounce to climb higher. The bullish momentum could cause the price to rise towards the 1st Resistance at 981.00.
Alternative Scenario:
Price may break below the Pivot at 953.50 and fall towards the 1st Support at 938.10.
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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.