Platinum (XPT) Maintains Upside Retracement Toward $1,025

The platinum market has remained buoyant, thanks to sustained interest and participation. As a result, the market closed in the green, holding above key technical levels.

Key Price Levels

Resistance Levels: $1,000, $1,100, $1,200

Support Levels: $950, $920, $900

Platinum Holds Above the Middle Band of the Bollinger Indicator

Price action on the XPT daily chart picked up from the baseline formed by the midline of the Bollinger Bands at the beginning of last week’s trading activity. However, resistance at the $1,000 level appears to have capped further upward movement.

Consequently, the market experienced a modest pullback, yet it continues to trade above the middle Bollinger Band. The Moving Average Convergence Divergence (MACD) indicator lines are still trending slightly upward through the equilibrium line, suggesting that traders may see further upside in the near term.

XPT Bullish Signals Strengthen

The platinum daily chart continues to reflect bullish signs. The most recent price candle rests on the midline of the Bollinger Bands and remains green, even as the upper and lower bands begin to narrow. This contraction indicates potential price compression before a breakout.

The MACD lines are positioned above the equilibrium level and are moving sideways, indicating consolidation. Nevertheless, the market appears poised for a rebound toward the $1,000 level and potentially higher in the sessions ahead.

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