Platinum Futures: Overbought and Facing Major ResistancePLATINUM (US$/OZ)TVC:PLATINUMSkyTreesPlatinum has surged to multi-year highs but is showing clear signs of exhaustion: Weekly RSI Divergence: Momentum is fading despite price highs—a classic reversal signal. Trendline Rejection: Price was rejected at a multi-year descending trendline and the 0.618 Fibonacci retracement level. Volume Weakness: The rally lacked strong volume, confirming limited buying conviction. Macro Context: Platinum demand is heavily linked to catalytic converters and hydrogen tech, but EV adoption and geopolitical stability in major producers (South Africa, Russia) could pressure prices lower. Key Levels: Resistance: $1,650–$1,700. Support: $1,300 (short-term), $1,100 (long-term target by 2026). Trade Setup: Target: $1,100. Stop-Loss: Above $1,700. Risk/reward looks attractive for patient swing traders. Watch for confirmation from USD strength and commodity indices. Do you think platinum is due for a major correction?