Platinum – Potential Short Setup with Retest

Jan 16

Platinum is currently trading below a key resistance zone, following a breakdown from the ascending channel. The recent bearish momentum indicates the potential for a continuation lower if the price fails to reclaim the resistance zone.

If the price retests this zone and shows rejection signals—such as bearish wicks, engulfing candles, or decreased buying pressure—it would strengthen the case for a short trade. In this scenario, the next target for sellers would be the $926.94 support zone, where buying interest may re-emerge.

This setup aligns with the broader bearish structure following the channel breakdown. Traders should monitor price action closely at the resistance level for confirmation of rejection before entering short positions.

Jan 16

Trade active

Jan 21

Trade closed manually

It is just stuck in a range. At this point I dont see a reason to stay in the trade.