Platinum Futures (PL1!) H4 | Approaching 50% Fibonacci Pullback Support

Type:

Bullish Reversal

Key Levels:

Resistance: 978.30

Pivot: 946.90

Support: 928.80

Preferred Case:

Looking at the H4 chart, my overall bias for platinum futures (PL1!) is bullish due to the presence of a bullish Ichimoku Cloud. The price could fall toward the pivot and stabilize around this level before reversing to rise toward the 1st Resistance at 978.30.

Alternative Scenario:

Price may break below the pivot at 946.90 and fall towards the 1st Support level at 928.80.