XPTUSD has just ended a strong uptrend and now started to trend lower again. Price appears to respect the trend line with three tests so far. This is a good potential entry point for shorts. About 4.30% downside until first major resistance.
Yes it was a difficult one.. Now its turning bullish, especially on the daily timeframe. A strong close on the 4H above the 1179 resistance area would be a very bullish sign for me now. What do you think?
Well, I think the change in trend direction is more obvious now than back then. Now both the MA 20 & 40 are aligned and price is trading below it. The previous uptrend in both XPT and XPD was very nice and clean, and easy to make money by entering on pullbacks. It will be very interesting to see if the downtrend will be as clean as the previous uptrend on both of these metals :)