Platinum- Can it Bridge the Gap with Gold?

For the past 10 months, XPTUSD has been trading within a range between approximately 850 to 1000.
However, upon closer examination of this range, it appears to resemble a rounded bottom formation and also after dipping below 900 at the beginning of March, Platinum has been establishing higher lows, suggesting that the price is ready for a strong rise.

Conservative traders may want to consider waiting for a break above 1000.
In such an instance, the price could potentially accelerate and reach 1300 in the medium term.

On the other hand, more aggressive traders could opt to buy dips near 950.
With a stop loss set below 850 and a target of 1300, this strategy could potentially yield a risk-to-reward ratio of more than 1:3.

Kommentera:

Platinum broke above technical resistance and now is flirting with 1k psychological level