Eseandre Mordi
⬤ Platinum (XPT/USD) is keeping its bullish momentum alive following Tuesday's breakout from a symmetrical triangle pattern. After the initial move higher, the metal pulled back to retest the former resistance zone—but buyers stepped in quickly, preventing any deeper slide and confirming the breakout was legitimate.
⬤ The daily chart tells the story clearly. When platinum dipped back into the old triangle resistance, it didn't stay there long. A long lower wick formed as demand surged on the pullback, creating a hammer-style candle that showed sellers couldn't push it lower. Price bounced back toward session highs, proving that bears failed to reclaim the breakdown area while bulls successfully defended what used to be resistance and is now acting as support.
⬤ Platinum is still trading above its rising moving averages, and both the trend structure and momentum look healthy. The current consolidation near recent highs looks more like a pause before another leg up rather than a reversal signal. While the upward push has slowed as price compresses, there's been no aggressive selling—suggesting dip buyers are still active and confident as long as price stays above the former triangle boundary.
⬤ This type of price behavior matters for the broader precious metals market. When a breakout holds after a retest, it usually means real buying interest rather than just short-term speculation. Platinum's ability to stay above former resistance suggests the market is building a stronger foundation for the next move higher. As long as support holds, the structure favors continued trend development. A clean break back below the triangle would change the outlook toward consolidation, but for now, buyers are in the driver's seat and the breakout scenario is still playing out.
Eseandre Mordi
