Platinum (XPT) Trades Above the 1,400 Threshold

The medium-term upward correction in the Platinum market has continued. This is supported by sustained demand for the metal, which has led to a price surge. The metal had previously attempted to breach the resistance at the 1,400 price level. Based on the current momentum, the bullish trend appears likely to continue.

Key Price Levels

Resistance: 1,500, 1,550, 1,600

Support: 1,425, 1,400, 1,375

Platinum Bears Remain Behind Barricade

Bullish pressure has persisted in the XPT daily market, resulting in price action successfully breaching the 1,400 price level. The market now trades above this level at a notable height. The latest price candle appears red and compressed but remains near the upper boundary of the Bollinger Bands (BB) indicator.

The BB indicator continues to follow a general upward trajectory, while the Smoothed Rate of Change (SROC) indicator line remains above the equilibrium level. Technically, price action in this market is unlikely to fall below the 1,400 mark.

XPT Market Stays Above Important Technical Levels

On the Platinum 4-hour chart, price action has moved slightly lower from the upper boundary of the BB indicator for the third consecutive session. However, it continues to trade above the middle band of the BB indicator, which retains a mild upward slope.

Similarly, the SROC indicator line remains above the equilibrium level with a slight upward tilt. Technically, price activity maintains notable alignment with a potential near-term increase toward the 1,500 resistance level.

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