Platinum (XPT/USD) prices remain on the front foot around a two-week high flashed the previous day, up half a percent surrounding $971 by the press time. In doing so, the precious metal extends the previous day’s rebound from the yearly low during the two-day uptrend heading into Wednesday’s European session.
From a technical perspective, the commodity prices portray a falling wedge bullish chart formation if observing XPT/USD moves since early March. That said, the buyers attack the wedge’s resistance line near $973 at the latest.
Given the bullish MACD signals and recently improving RSI line, not overbought, the commodity is expected to stay on the buyer’s table. However, a clear upside break of the $975 becomes necessary to convince bulls.
Following that, the 200-DMA and tops marked during late March, respectively around $1,005 and $1,045, could test the buyers ahead of the $1,100 threshold and the theoretical target of the wedge breakout, around $1,250.
Meanwhile, pullback moves could aim for the $943-45 nearby support zone before the previous month’s bottom close to $908.
It should be observed, however, that multiple levels between $905 and $898 could challenge the platinum bears during the quote’s weakness past $908.

Trend: Further upside expected
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