📈 XPTUSD Hovering Below Light Resistance, Structure Remains Bullish
Platinum is consolidating beneath a relatively light resistance zone after an extended rally, maintaining a strong bullish structure supported by rising trendlines and stacked demand zones. With price action still above key support, bulls are in control unless structure breaks. This publication outlines the levels to watch and the broader market context.
🔍 Technical Analysis:
XPTUSD is currently trading just under $1,471, a mild resistance zone marked on the chart. While price has yet to break through decisively, the rejection so far lacks strong volume, suggesting the resistance may not hold for long.
The overall trend remains bullish, with higher lows forming along the ascending trendline. As long as the structure remains intact and price holds above the key 1H and 4H supports, bulls can aim for a breakout continuation.
🛡️ Support Zones (if pullback occurs):
🟢 $1,385.84 – Last 1H Support (Highest Risk)
Quick-response zone. Valid for scalps or short-term setups.
Stop-loss: Below $1,375
🟡 $1,172.10 – Internal 4H Support (Higher Risk)
Good structural base. Aligned with ascending support trendline.
Stop-loss: Below $1,150
🟠 $1,105.05 – Monthly Support (Great Entry)
Strong macro demand zone. Ideal for long-term swing positioning.
Stop-loss: Below $1,085
🔼 Resistance Levels:
🟥 $1,471.35 – Light Resistance Zone
Currently capping price but lacks strong rejection. Break above could accelerate trend.
🧭 Outlook:
Bullish Case:
Hold above $1,385 and break through $1,471 leads to a renewed bullish impulse.
Bearish Case:
Break below $1,385 may trigger correction into the $1,170 or $1,105 zones before resumption.
Bias:
Bullish while price holds above $1,385 and trendline remains unbroken.
🌍 Fundamental Insight:
Platinum remains supported by constrained supply and robust industrial demand. Expectations of rate cuts and softer inflation also add tailwinds. However, rising dollar strength or sudden shifts in risk appetite could challenge short-term momentum.
✅ Conclusion:
XPTUSD is consolidating below mild resistance, maintaining a healthy bullish structure. A break above $1,471 could confirm trend continuation. Bulls are in control unless $1,385 and the ascending trendline are lost.
Not financial advice. Like & follow for more structure-based insights on FX and commodities.
Platinum is consolidating beneath a relatively light resistance zone after an extended rally, maintaining a strong bullish structure supported by rising trendlines and stacked demand zones. With price action still above key support, bulls are in control unless structure breaks. This publication outlines the levels to watch and the broader market context.
🔍 Technical Analysis:
XPTUSD is currently trading just under $1,471, a mild resistance zone marked on the chart. While price has yet to break through decisively, the rejection so far lacks strong volume, suggesting the resistance may not hold for long.
The overall trend remains bullish, with higher lows forming along the ascending trendline. As long as the structure remains intact and price holds above the key 1H and 4H supports, bulls can aim for a breakout continuation.
🛡️ Support Zones (if pullback occurs):
🟢 $1,385.84 – Last 1H Support (Highest Risk)
Quick-response zone. Valid for scalps or short-term setups.
Stop-loss: Below $1,375
🟡 $1,172.10 – Internal 4H Support (Higher Risk)
Good structural base. Aligned with ascending support trendline.
Stop-loss: Below $1,150
🟠 $1,105.05 – Monthly Support (Great Entry)
Strong macro demand zone. Ideal for long-term swing positioning.
Stop-loss: Below $1,085
🔼 Resistance Levels:
🟥 $1,471.35 – Light Resistance Zone
Currently capping price but lacks strong rejection. Break above could accelerate trend.
🧭 Outlook:
Bullish Case:
Hold above $1,385 and break through $1,471 leads to a renewed bullish impulse.
Bearish Case:
Break below $1,385 may trigger correction into the $1,170 or $1,105 zones before resumption.
Bias:
Bullish while price holds above $1,385 and trendline remains unbroken.
🌍 Fundamental Insight:
Platinum remains supported by constrained supply and robust industrial demand. Expectations of rate cuts and softer inflation also add tailwinds. However, rising dollar strength or sudden shifts in risk appetite could challenge short-term momentum.
✅ Conclusion:
XPTUSD is consolidating below mild resistance, maintaining a healthy bullish structure. A break above $1,471 could confirm trend continuation. Bulls are in control unless $1,385 and the ascending trendline are lost.
Not financial advice. Like & follow for more structure-based insights on FX and commodities.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.