XPT Surges as EMAs Align with Bullish Chart PatternH ello!
XPT broke out from a falling wedge (See green trendlines!) formation with strong bull power, as the MACD shows. It wasn't against expectations since falling wedge chart patterns usually break upward. It's often a bullish formation. Thus, MACD and chart patterns align with a bullish outlook. Furthermore, the price is above EMAs (20/50/100/200). EMAs crossed upward on the 24th of September. Seemingly, nothing stands in the path of bulls until the green target circles. However, stay vigilant and don't go all in.
Regards,
Ely
Xptusdforecast
Time to BUY PLATINUM (XPTUSD)?....YES!Sept 23 - 27th
Is it time to buy Platinum? YESSIR!
Weekly TF clearly shows the formation of a weekly bullish Fair Value Gap (+FVG).
Daily TF shows price is sitting in a daily +FVG, over lapping the W +FVG.
4H TF shows price is sitting in a 4H +FVG, which is nested in the D +FVG.
Not to mention, price has broken structure to the upside, and has pulled back to all of the above.
Did I mention the trend line that is intersecting the 4H and Daily +FVGs for confluence of support?
Oh yeah... the 4H TF shows the retracement of the most recent trading range has pulled back to the fibonacci Golden Ratio of .618.
So yeah, I'm thinking the market is BULLISH, and poised to push higher from the +FVGs.
May profits be upon you.
Enjoy!
May profits be upon you.
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XPTUSD Possible short term bearish moveIn the monthly the price is testing a Supply zone. We could expect a move to the downside.
In the weekly the price is over extended. Also, the price is testing a supply zone which means that a possible move to the down side is coming
In the Daily the situation is the same. The price is over extended and rejecting a supply zone.
All the Higher time frame are in confluence for a bearish move.
Platinum to fall around 7%Like all PMs, Platinum is also under pressure and the last correction was very anemic and well caped in 960 zone.
At this moment XptUsd is sitting on support and I expect this to fall.
The next target for this fall could be 850 zone and only the price back above 960 would lift some weight from the selling side.
As in Gold&Siver's case, I'm strongly bearish Platinum also.