Platinum Futures (PL1!) H4 | Potential Bearish Breakout

Type:

Bearish Breakout

Key Levels:

Resistance: 955.00

Pivot: 938.10

Support: 917.40

Preferred Case:

Looking at the H4 chart, my overall bias for Platinum futures (PL1!) is bearish due to the price trading within the bearish Ichimoku Cloud and looking to break through a bearish flag pattern. The price could break below the pivot and fall toward the 1st Support at 917.40.

Alternative Scenario:

Price may reverse off the pivot at 938.10 and rise towards the 1st Resistance level at 955.00.