XPTUSD long term analysis and approach.
We see price had a massive dropped from mid February, and have since made several bull run to recover much of the price.
The current price action is showing a larger continuation structure, indicating more bull momentum could come in once the correction finishes.
I would go down to the lower time frame to...
. There is a possibility of temporary retracement to suggested support line (797.31). if so, traders can set orders based on Price Action and expect to reach short-term targets.
. Platinum/USDollar is in a range bound and the beginning of uptrend is expected.
. The ascending flag taking shape suggests we will soon see...
Platinum is breaking out of a 5-6 week bull flag after tagging its 50 day moving average and reversing from major structure. Precious metals seem to be breaking out in general, but I particularly like the pattern in platinum. I am long all three (gold, silver and platinum).
Price seems to be obeying previous trendlines (red dotted line & pink line).
As price meets vwap once more, it looks like a good area for shorting.
Wait for an entry reason, what ever you choose on a lower time frame.
Platinum has consolidated sideways for the past 21 Days and compressing. If the Gold and silver markets move look for Platinum to follow with a bit more volatility. Current price is apexing and it can’t consolidate and move sideways forever…
📈Support & Resistance📉*
1st Support Zone: 755.484
2nd Support Zone: 713.468
3rd Support Zone:...
Welcome to this analysis of XPT/USD.
Platinum has been in an uptrend since the capitulation low on the 19th of March.
Price rallied from 565$ to 860$ but on 21st of May but it faced some resistance there and went sideways for over a month. Looking at the consolidation it looks like the price has made a falling channel Bull flag that got activated yesterday by a...
Pattern: 1D MA200 rejection.
Signal: Bearish as the rejection took place on the RSI support level.
Target: When the RSI hits 33.73.
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