Platinum Futures (PL1!) H4 | Potential Bearish Reversal?

Type:

Bearish Reversal

Key Levels:

Resistance: 1,050

Pivot: 1,014.3

Support: 987.8

Preferred Case:

Looking at the H4 chart, the price is rising towards a pullback resistance where it could stabilize before making a bearish reaction toward the 1st support at 987.8. Price remains below the Ichimoku Cloud adding further significance to the bearish momentum.

Alternative Scenario:

Price may break above the Pivot at 1,014.3 and rise towards the 1st Resistance at 1,050