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Platinum Futures (PL1!), H1 Potential for Bullish Rise

40313 platinum futures pl1 h1 potential for bullish rise

Type: Bullish RiseKey Levels:Resistance: 1026.3Pivot: 1000.5Support: 988.0Preferred Case:Price is moving within the ascending trend channel and is moving above the ichimoku cloud which supports our bullish bias that price will rise from the pivot at 1000.5 where the pullback support is to the 1st resistance at 1026.3 in line with the swing high resistance.Alternative Scenario:Alternatively, price may break pivot structure and drop to the 1st support at 988.0 in line with the swing low support.Fundamentals:Due to increasing inflation rates in the US,UK and other developed economies, we have a bullish view on the precious metal.

Source: Tickmill

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