FX.co ★ Platinum appears to remain dominated by Sellers and thus has the potential to continue its weakening bias

[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