Platinum Futures (PL1!) H4 | Swing-high Resistance at 78.6% Fibonacci Retracement
Platinum Futures (PL1!) H4 | Swing-high Resistance at 78.6% Fibonacci Retracement
Type:
Bearish Reversal
Key Levels:
Resistance: 1,030.00
Pivot: 999.10
Support: 937.50
Preferred Case:
Looking at the H4 chart, the price could rise toward the pivot and potentially stall around this level before reversing to fall toward the 1st Support at 937.50.
Alternative Scenario:
Price may break above the Pivot at 999.10 and rise toward the 1st Resistance at 1,030.00.
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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.