[Platinum]
With all technical conditions for Platinum which indicates a weakening trend, today #PLF has the potential to decline toward its nearest support level.
Key Levels
1. Resistance. 2 : 1655.7
2. Resistance. 1 : 1606.8
3. Pivot : 1568.7
4. Support. 1 : 1519.8
5. Support. 2 : 1481.7
Tactical Scenario:
Pressure Zone: If the price breaks down and closes below 1519.8, #PLF may weaken further down to 1481.7.
Momentum Extension Bias: If 1481.7 is breached, there is potential to test the level at 1432.8.
Invalidation Level / Bias Revision:
The downside bias is contained if the price of Platinum strengthens and closes above 1655.7.
Technical Summary:
EMA(50) : 1575.3
EMA(200): 1593.1
RSI(14) : 43.40
Economic News Release Agenda:
Tonight, the following economic data will be released from the United States:
US - Empire State Manufacturing Index - 20:30 WIB
US - Construction Spending m/m - 22:00 WIB
