#PLF

With the market ranging condition, as confirmed by #PLF which repeatedly crossing both EMAs, yet still under seller pressure where it is confirmed by RSI(14) in the Neutral-Bearish area, then in the near term Platinum has the potential to weaken toward its nearest support level.

Key Levels

1. Resistance. 2 : 2210.8

2. Resistance. 1 : 2162.2

3. Pivot : 2118.3

4. Support. 1 : 2069.7

5. Support. 2 : 2025.8

Tactical Scenario

Pressure Zone: If the price breaks down below 2069.7, there is potential for continued pressure toward 2025.8.

Momentum Extension Bias: If 2025.8 is also broken to the downside, #PLF may try to test 1977.2.

Invalidation level / Bias Revision

The downside bias is restrained if the price strengthens and breaks out above 2210.8.

Technical Summary

EMA(50) : 2110.6

EMA(200): 2104.7

RSI(14) : 47.19

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