Platinum

The Death Cross intersection of the EMAs is putting pressure on Platinum, so today it is has the potential to be pressured toward its nearest support level.

Key Levels

1. Resistance. 2 : 2071.3

2. Resistance. 1 : 2045.7

3. Pivot : 2006.8

4. Support. 1 : 1981.2

5. Support. 2 : 1942.3

Tactical Scenario

Pressure Zone: If the price breaks down below 2006.8, there is potential for continued pressure toward 1981.2.

Momentum Extension Bias: If 1981.2 is broken, Platinum may continue down to 1942.3.

Invalidation Level / Bias Revision

The downside bias is restrained if the price strengthens and breaks above 2071.3.

Technical Summary

EMA(50) : 2014.4

EMA(200): 2042.1

RSI(14) : 61.12

Economic News Release Agenda:

Tonight the United States will release the following economic data:

US - ADP Weekly Employment Change - 19:15 WIB

US - HPI m/m - 20:00 WIB

US - S&P/CS Composite-20 HPI y/y - 20:00 WIB

US - CB Consumer Confidence - 21:00 WIB

US - Richmond Manufacturing Index - 21:00 WIB

US - API Weekly Statistical Bulletin - 03:30 WIB