Platinum (XPTUSD) is rebounding after entering the S1 Zone, which is the bottom part of the Rectangle pattern that has been keeping the price action sideways for the past three months. The 1D technical outlook is neutral (RSI = 45.406, MACD = -7.150, ADX = 37.615) as a result, which justifies this ranged price action. The 1D RSI is rising on a HL trendline, thus...
Platinum is on its way downwards to develop wave Y in light green and still has got room to expand. Indeed, there is a 30% chance that the price could even drop into the green zone between $758 and $659, establishing the low of wave Alt.Y in light green instead. Primarily, though, we expect platinum to turn upwards before reaching the green zone.
Today's focus: Platinum
Pattern – Support hold, trend break
Possible targets – 1070
Support – 993
Resistance – 1035, 1070
Today’s update is on Platinum. We have run over our thoughts and levels we are watching. Yesterday’s solid rally has held support and has started to test support after breaking the current downtrend. Will we see buyers clear resistance and...
Platinum has reached an important poi. Could be poised to take a fall.
It may take some time, as the USD has been weakened by slightly better inflation news, so we'll see.
The D1 momentum is bullish , currently, so waiting for confirmations for sells is the best course of action.
Look for bearish price action at current levels.
Hello friends, today you can review the technical analysis idea on a 1D linear scale chart for Platinum.
The chart is self-explanatory. Platinum price made multiple attempts to get back above the 0.618 Fibonacci Retracement level but was rejected and now headed back down. Platinum price may be supported by the Multi-month support line. If it fails there then...
three possibilities:
- sideways into range (purple zone)
- ascending channel rising into grand ascending channel
- break drown and the correction extends below $1050
Let me present my idea, it looks like Platinum has touched the 61.8% Fibonacci retracement level at the price 953.066, and we hope to go to the first price direction in the 982.739 range at the 161.8% level, and the second price at the 999.925 range at the 261.8% level, but I personally prefer to set the profit point at the first price range. If the movement...
XPTUSD reached our 1,040 Target on our long since October 31st, 2019 as seen on the buy call below:
The 1M Bullish Megaphone since September 2018 is still holding (RSI = 57.612, MACD = 6.190, ADX = 38.381, Highs/Lows = 74.3178) and in fact the 1,040 top was its Higher High as seen on the chart. We are now expecting its technical pull back which based on the...
