Platinum Futures (PL1!) H1 | Falling to Pullback Support
Platinum Futures (PL1!) H1 | Falling to Pullback Support
Type:
Bullish Bounce
Key Levels:
Resistance: 1,009.60
Pivot: 993.80
Support: 984.40
Preferred Case:
Looking at the H1 chart, my overall bias for platinum futures (PL1!) is bullish due to the green Ichimoku Cloud and the price falling towards a support zone identified by the intersection between an ascending trendline and a pullback support. It could stabilize around the Pivot before reversing to bounce towards the 1st Resistance at 1,009.60.
Alternative Scenario:
Price may break below the Pivot at 993.80 and fall towards the 1st Support at 984.40.