XPTUSD Long-term buy opportunity near 1 year Support.

31. Juli 2023

Platinum (XPTUSD) is having a strong start to the week following a streak of 2 red 1W candles rejected on both the 1W MA50 (blue trend-line) and 1W MA200 (orange trend-line). Regardless of the obvious 1W Golden Cross pattern that those two are aiming to complete, the price got again near the 895 - 903 Support Zone, which has been closing all 1W candles above since September 2022.

With the 1W RSI on a bottom sequence similar to the February 2023, December 2021 and September 2021 fractals, we consider this an excellent long-term buy opportunity. Our target is the bottom of the Resistance Zone at 1100.

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