Platinum (spot) intraday: the upside prevails as l

Platinum (spot) intraday: the upside prevails as long as 1091.5 is support

XPTUSD

Trading Central 2021-01-14 00:36:05

Our pivot point is at 1091.5.

Our preference: the upside prevails as long as 1091.5 is support.

Alternative scenario: the downside breakout of 1091.5 would call for 1081.6 and 1075.7.

Comment: the RSI is above 70. It could mean either that prices are in a lasting uptrend or just overbought and therefore bound to correct (look for bearish divergence in this case). The MACD is above its signal line and positive. The configuration is positive. Platinum (spot) is trading above both its 20 and 50 period moving average (respectively at 1081.8 and 1078.7).

Supports and resistances:

1132.0 **

1126.1 *

1120.2 **

1114.2

1100.0 last

1095.5

1091.5 **

Disclaimer

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