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Platinum Futures ( PL1!), H4 Potential for Bullish Momentum

Long
Platinum Futures (NYMEX:PL1!)  
Genesiv  
NYMEX:PL1!   Platinum Futures
Trend Analysis Chart Patterns Technical Indicators pl1
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trendanalysis chartpattern indicator pl1

Type: Bullish Momentum
Resistance: 975.5
Pivot: 939.4
Support: 914.0

Preferred case: On the H4 chart, we have a bullish bias. To add confluence to this, price is above the Ichimoku cloud and ascending channel, which indicate a bullish market. The price may rise from the pivot at 939.4, which is in line with the 38.2% fibonacci retracement to the 1st resistance at 975.5, where the swing highs are.

Alternative scenario: Price may drop to the 1st support at 914.0, where the swing low and 61.8% fibonacci retracement are.

Fundamentals: There are no major news.
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