InvestingScope
Long

Platinum (XPTUSD): Quick Update. Getting closer to our Target.

FX_IDC:XPTUSD   Platinum / U.S. Dollar
Platinum is approaching our medium term Target Zone of 1,020 - 1,040 as we posted on this idea in late October:


As the moment, the current 1D Channel Up ( RSI = 66.576, MACD = 14.780, ADX = 30.519, Highs/Lows = 23.68000) has just broken above the Higher High trend line again in a move that strongly resembles the late July/ early August break out. That Channel Up was supported by the 1D MA50 (blue trend line ) and on a similar RSI action as today's broke to the upside aggressively to form a market top near 1,000.

We assume that as long as the 1D MA50 supports the uptrend, XPTUSD will aggressively break into our Target Zone.




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