XPTUSD About to test the 1D MA200. Strong buy above it.

14 dic 2023

Platinum (XPTUSD) is going quite well since our October 25 buy call (see chart below) as we caught the bottom and the price is now rebounding:

The long term pattern is a Channel Up. At the moment the price is supported by the 1D MA50 (blue trend-line) buy restrained below the 1D MA200 (orange trend-line) where it got rejected on November 28. Even though the bottom of the Channel Up was made and the 1D RSI patterns between the two sequences are similar, we need confirmation for upward extension by a break above the 1D MA200.

If you didn't buy lower, you can wait until that level breaks, and then target the +28.55% range at $1100.

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