PLATINUM Approaching Key Resistance – Potential Reversal?

18 Mac

XPTUSD is approaching a significant resistance zone, marked by previous price rejections and strong selling pressure. This level has historically acted as a key supply zone, making it a critical area to watch for potential bearish reactions.

The recent bullish momentum has brought price back into this resistance, increasing the likelihood of a pullback if sellers regain control. If rejection is confirmed within this zone, we could see a move lower toward the $1,005 level, aligning with a corrective move after the recent rally. However, a strong breakout above this resistance would invalidate the bearish bias and could lead to further upside.

Traders should watch for bearish confirmation signals, such as rejection wicks, a bearish engulfing pattern, or increasing selling volume, before considering short positions.

Let me know your thoughts or any additional insights you might have!

19 Mac

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21 Mac

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