Platinum Futures ( PL1!), H4 Potential for Bullish Momentum
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.
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.
This analysis is provided as general market commentary and does not constitute investment advice. Past performance is not indicative of future results