Platinum: Bullish bias holds as breakout test looms - OCBC
OCBC’s Christopher Wong keeps a firmer tactical bias on Platinum, favouring buy-on-dips despite a recent loss of momentum near 1860–1910. Mild bullish momentum remains intact, with key resistance at 1863–1943 and upside potential towards 2065 on a clean breakout.
OCBC's Christopher Wong maintains a bullish outlook for Platinum, recommending buy-on-dips despite recent momentum loss near 1860-1910. Bullish sentiment persists with resistance at 1863-1943, and upside potential towards 2065 on a successful breakout. Support levels are found around 1815 and 1765, reinforcing the positive near-term perspective.
Platinum continues to exhibit a mild bullish momentum and buy-on-dips bias, although it must clear the 1863-1943 range to potentially extend to 2,065. Following a rally stalling around 1860-1910 levels, Platinum's momentum has waned. The key resistance area stands at 1863 (23.6% Fibonacci retracement of 2026 high to low) and 1943 (200-Day Moving Average).
A clean breakout is crucial for increasing market confidence. The next resistance point is 2065 (38.2% Fibonacci). The bias is to buy dips. Support is identified at 1815 (100-Day Moving Average) and 1765 (21-Day Moving Average).
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