XPTUSD bottomed and has almost +30% upside potential.
Platinum (XPTUSD) is testing (and so far failing to break) the 1D MA50 (blue trend-line) after a rebound on the bottom (Higher Lows trend-line) of the long-term Channel Up structure. A break above the 1D MA50 but mostly the Lower Highs trend-line, would confirm the bullish bias on such a low price action, with considerable upside potential.
As you can see the current bottom formation is very similar to the one that led to the September 01 2022 Low. The 1D RSI fractals are identical and will be confirmed if it continues on Higher Lows.
As a result we do have a low risk buy signal on the current level but it is not confirmed yet and needs to break above the Lower Highs to do so. Our long-term target is the 1100, which represents a +28.55% rise from the bottom, similar to the November 11 2022 peak.
-------------------------------------------------------------------------------
** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. **
-------------------------------------------------------------------------------
💸💸💸💸💸💸
👇 👇 👇 👇 👇 👇
As you can see the current bottom formation is very similar to the one that led to the September 01 2022 Low. The 1D RSI fractals are identical and will be confirmed if it continues on Higher Lows.
As a result we do have a low risk buy signal on the current level but it is not confirmed yet and needs to break above the Lower Highs to do so. Our long-term target is the 1100, which represents a +28.55% rise from the bottom, similar to the November 11 2022 peak.
-------------------------------------------------------------------------------
** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. **
-------------------------------------------------------------------------------
💸💸💸💸💸💸
👇 👇 👇 👇 👇 👇
👑Best Signals (Forex/Crypto+70% accuracy) & Account Management (+20% profit/month on 10k accounts)
💰Free Channel t.me/tradingshotglobal
🤵Contact info@tradingshot.com t.me/tradingshot
🔥New service: next X100 crypto GEMS!
💰Free Channel t.me/tradingshotglobal
🤵Contact info@tradingshot.com t.me/tradingshot
🔥New service: next X100 crypto GEMS!
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.