Is Momentum Changing for Platinum? Price Just Crossed Above Its 200 Day Moving Average

The Hourly View for Platinum

  • At the time of this writing, XPTUSD’s price is down $-3.6 (-0.34%) from the hour prior.
  • It’s been a feast for bears operating on an hourly timeframe, as Platinum has now gone down 5 of the past 5 hours.
  • As for the trend on the hourly timeframe, we see the clearest trend on the 100 hour timeframe.
  • The moving averages on the hourly timeframe suggest a choppiness in price, as the 20, 50, 100 and 200 are all in a mixed alignment — meaning the trend across timeframes is inconsistent, indicating a potential opportunity for rangebound traders.

Platinum’s hourly price chart is shown below.

XPTUSD

The Daily View for Platinum

  • Currently, XPTUSD’s price is down $-23.38 (-2.14%) from the day prior.
  • The daily chart shows that Platinum has seen 2 straight down days.
  • If you’re a trend trader, consider that the strongest clear trend on the daily chart exists on the 50 day timeframe.
  • Most noteworthy in the world of moving averages on the daily chart is that the 200 day moving average has been crossed, with price now being below it. The moving averages on the daily timeframe suggest a choppiness in price, as the 20, 50, 100 and 200 are all in a mixed alignment — meaning the trend across timeframes is inconsistent, indicating a potential opportunity for rangebound traders.

Below is a daily price chart of Platinum.

XPTUSD

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