PLATINUM Approaching Key Resistance – Potential Reversal?

Mar 18

XPTUSD is approaching a significant resistance zone, marked by previous price rejections and strong selling pressure. This level has historically acted as a key supply zone, making it a critical area to watch for potential bearish reactions.

The recent bullish momentum has brought price back into this resistance, increasing the likelihood of a pullback if sellers regain control. If rejection is confirmed within this zone, we could see a move lower toward the $1,005 level, aligning with a corrective move after the recent rally. However, a strong breakout above this resistance would invalidate the bearish bias and could lead to further upside.

Traders should watch for bearish confirmation signals, such as rejection wicks, a bearish engulfing pattern, or increasing selling volume, before considering short positions.

Let me know your thoughts or any additional insights you might have!

Mar 19

Trade active

Mar 21

Trade closed: target reached

Take Profit Reached