Platinum: Bullish bias holds as breakout test looms - OCBC

OCBC analyst Christopher Wong maintains a constructive tactical bias on Platinum (XPTUSD), favoring a buy-on-dips strategy despite recent signs of upside momentum stalling in the 1860–1910 range. The precious metal was last seen trading near the 1850 level, where mild bullish momentum continues to support the broader market structure. According to the technical analysis, Platinum faces critical resistance spanning from 1863, representing the 23.6% Fibonacci retracement of the 2026 high-to-low move, up to 1943, where the 200-day moving average sits. Analysts note that a clean breakout above this technical hurdle is necessary to unlock stronger bullish conviction and open the path toward the next major upside target at 2065, corresponding to the 38.2% Fibonacci retracement level. On the downside, key support levels are identified at 1815, aligning with the 100-day moving average, and further down at 1765 along the 21-day moving average. These support zones are expected to cushion potential pullbacks and anchor the constructive near-term outlook for the commodity.