XPT has declined for several weeks. Will it still drop in the future?
No, I don't think so. The price moves close to previous low.
Now it is time to buy because the demand zone locates at 760-780 usd.
SL: below 750
Traders must wait for the reverse signals in the PRZ if positions is opened.
Worth keeping an eye on this.
Might be a classic false-break - but structure wise, we are in a falling wedge, which usually goes up.
Historical support and resistance suggests it will go up - could be 25-50% gains.
Pattern: 1D Head and Shoulders.
Signal: Bullish as the price has touched the Support of the neckline. Potential rebound towards the Resistance but tight trade due to the bearish momentum.
Target: 870.00 (top of the neckline and symmetrical Resistance).