Platinum Futures (PL1!) H4 | Rising into Overlap Resistance
Type:
Bearish Reversal
Key Levels:
Resistance: 995.00
Pivot: 981.20
Support: 962.70
Preferred Case:
Looking at the H4 chart, the price is rising towards an overlap resistance where it could stall and potentially reverse to fall towards the 1st Support at 962.70.
Alternative Scenario:
Price may break above the Pivot at 981.20 and rise towards the 1st Resistance at 995.00.
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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.