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Platinum To Break Above Consolidation This Week

OANDA:XPTUSD   Platinum / U.S. Dollar
Platinum Overview
Good ol’ XPT closed the week higher. If P action at Mondays open can push P action above this consolidation platinum could have a good week in the green. A hold above this and a follow of the likes of Gold and Silver could see price reach $880 within the next 2 weeks.

If American markets fall, will look to see the precious metals take a slight dip also, however will not fall with as much volatility .

Area of Interest
Focusing more on the internals and TA on the charts Platinum must hold the trend line from the lows, break through the inner high trend line freeing itself from the grasps of the last 2 weeks consolidation area. 820 will see some considerable resistance that bulls will have to fight to get higher.


📈Support & Resistance📉*
Support Levels
1st Support Zone: 755.484
2nd Support Zone: 713.468
3rd Support Zone: 682.747

Resistance Levels:
1st Resistance Zone: 799.035
2nd Resistance Zone: 818.817
3rd Resistance Zone: 863.278


Price Level Consideration
All Time High Half Way Point: 1151.080
Prominent High: 1020.971
Prominent Low: 563.635
🐃 Bulls Verse Bears 🐻
🐃 Bullish above: 918.377
🐻 Bearish below: BEARISH at the moment

Monthly & Weekly Opens
Monthly Open:776.026
Weekly Open: 771.095


Comments

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