Platinum (XPT) Maintains Positivity Below the 1,400 Price Level

The platinum market recently pushed through the 1,400 price level, bringing the metal to a high of 1,410. However, easing tensions in the Middle East reduced the safe-haven demand, which subsequently dampened the trend and caused a notable pullback in the market.

Key Price Levels

Resistance Levels: 1,400, 1,500, 1,600

Support Levels: 1,300, 1,200, 1,100

Platinum Re-approaches the Key Resistance at 1,400

Although price action in the daily XPT market experienced a recent pullback, the latest session shows signs that bullish forces are attempting to regain lost ground. The most recent price candle is green, suggesting that upward momentum remains active. It also keeps the market oriented toward the upper boundary of the Bollinger Bands (BB) indicator.

The BB indicator itself is projected upward, although its bands are narrowing—suggesting a potential squeeze and upcoming volatility. Price action continues to hover near the upper band. Additionally, the Moving Average Convergence Divergence (MACD) indicator remains above the equilibrium line, which supports a positive market outlook. Therefore, traders can remain cautiously optimistic.

XPT Shows a Fair Upside Potential

Price activity in the 4-hour platinum market maintains an optimistic tone. The most recent price candle is green and floating above the middle band of the BB indicator. Although the latest candle appears slightly dashed in shape, it floats above the previous session, reinforcing the upward stance.

Likewise, the BB indicator maintains a generally upward trajectory. The MACD lines also remain above the equilibrium level and are moving sideways to slightly upward. This indicates that bullish forces may be gaining traction and could potentially drive the market toward the 1,425 price level.

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