Today, Platinum seems likely have the potential to continue its bullish bias.

[Ben Graham]

[Platinum]

Although the RSI(14) is in the Neutral-Bearish level, but with the position of EMA(50) above EMA(200), forming a Golden Cross, indicates that buyers remain dominant in Platinum.

Key Levels:

1. Resistance. 2 : 1759.7

2. Resistance. 1 : 1715.3

3. Pivot : 1689.2

4. Support. 1 : 1644.8

5. Support. 2 : 1618.7

Tactical Scenario:

Positive Reaction Zone: If the price of Platinum breaks out and closes above 1689.2, it may continue strengthening up to 1715.3.

Momentum Extension Bias: If 1715.3 is broken, #PLF has the potential to test the level at 1759.7.

Invalidation Level / Bias Revision:

The upside bias weakens if the price of Platinum breaks below 1618.7.

Technical Summary:

EMA(50) : 1677.3

EMA(200): 1632.4

RSI(14) : 39.83

Economic News Release Agenda:

Later tonight from the United States, several economic data releases are as follows:

US - RCM/TIPP Economic Optimism - Tentative

US - Wards Total Vehicle Sales - All day

The material has been provided by InstaForex Company - www.instaforex.com