Platinum (XPTUSD) has been trading within a (very) long-term Triangle pattern since the September 24 2020 Low. That was the low that initiated a massive rally to the February 16 2021 High that started the long-term Lower Highs trend-line, which lastly rejected the price November 11 2022.
The 1D MA50 (blue trend-line) is the key here. As long as it holds, there are good chances that Platinum will push for another Lower Highs test and potentially a break-out, targeting the 0.618 Fibonacci level.
If the 1D MA50 breaks, we will pursue the Symmetrical Support Zone as our short-term target and the September 24 2020 low (830.00) as our long-term.
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