Platinum (XPT) Edges Notably Higher - learn2trade
Login

Platinum (XPT) Breaks a Key Resistance

Estimated Reading Time: 2 minutes
Article Rating:
Based on 1 vote
Login to rate this article.

Azeez Mustapha

Updated:


The platinum market has continued its upward movement, as more and more traders join the trend. This has brought the metal to trade above the $1,600 price level, with the possibility of the market reaching even higher ground. More details about the market are provided below.

Key Price Levels

Resistance: $1,700, $1,800, $1,900

Support: $1,600, $1,500, $1,400

Platinum (XPT) Edges Notably Higher

Platinum Bulls Aren’t Relenting

While the XPT market edged lower over the past week after briefly rising above the $1,600 price level, the ongoing session has recovered those previous losses. The latest price candle on the chart has pushed the market back above the $1,600 level.

Throughout this period, the market has remained above the 9-day EMA line. Although the Stochastic Relative Strength Index (SRSI) indicator lines previously showed a downward trajectory, they have now turned upward toward a potential crossover. The most recent green candle, despite earlier downward pressure, keeps hopes of a continued upward retracement alive.

Platinum (XPT) Edges Notably Higher

XPT Keeps a Promising Outlook

On a shorter 4-hour timeframe chart, platinum’s price action still maintains an upward bias. The latest price candle remains green and stays above the 9-day EMA curve.

Furthermore, the SRSI indicator lines have maintained a steady upward trajectory since crossing below the 20 mark. The lead line of the SRSI has risen past the 70 mark and is now testing the 80 level, while the lag line has just moved above the 55 mark—indicating a notable gap between the two.

This suggests that price action could still advance toward the $1,650 level.

Make money without lifting your fingers: Start trading smarter today

  • Broker
  • Benefits
  • Min Deposit
  • Score
  • Visit Broker
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
9.8
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
9
  • The Lowest Trading Costs
  • 50% Welcome Bonus
  • Award-winning 24 Hour Support
$50 Min Deposit
9
  • Fund Moneta Markets account with a minimum of $250
  • Opt in using the form to claim your 50% deposit bonus
$250 Min Deposit
9

Learn to Trade

Never Miss A Trade Again

step 1
Signal Notification

Real-time signal notifications whenever a signal is opened, closes or Updated

step 2
Get Alerts

Immediate alerts to your email and mobile phone.

step 3
Entry Price Levels

Entry price level for every signal Just choose one of our Top Brokers in the list above to get all this free.

Share with other traders!

telegram
Telegram
forex
Forex
crypto
Crypto
algo
Algo
news
News