Price Action Context

After trading roughly 11 months below the multi-year S/R zone, bulls have now successfully pushed the price of this precious metal back above the key resistance, which is now being tested as support.

Trending Analysis

The current pullback should be of interest to bulls as it can offer potential buying opportunities in anticipation of a possible bullish continuation north.

Key Support & Resistance Zones

R: 1015 – 1043
S: 865 – 890

XPTUSD

Trading Foreign Exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange, you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advisce from an independent financial advisor if you have any doubts.

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