Platinum / U.S. Dollar
Long

Platinum (XPTUSD): Quick Update. Getting closer to our Target.

260
Platinum is approaching our medium term Target Zone of 1,020 - 1,040 as we posted on this idea in late October:

Platinum (XPTUSD): Bullish Megaphone towards a new Higher High.


As the moment, the current 1D Channel Up (RSI = 66.576, MACD = 14.780, ADX = 30.519, Highs/Lows = 23.68000) has just broken above the Higher High trend line again in a move that strongly resembles the late July/ early August break out. That Channel Up was supported by the 1D MA50 (blue trend line) and on a similar RSI action as today's broke to the upside aggressively to form a market top near 1,000.

We assume that as long as the 1D MA50 supports the uptrend, XPTUSD will aggressively break into our Target Zone.




** If you like our free content follow our profile (tradingview.com/u/InvestingScope) to get more daily ideas. **

Comments and likes are greatly appreciated.

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.