The Hourly View for Platinum
- At the moment, XPTUSD’s price is down $-0.1 (-0.01%) from the hour prior.
- It’s been a feast for bears operating on an hourly timeframe, as Platinum has now gone down 4 of the past 5 hours.
- As for the trend on the hourly timeframe, we see the clearest trend on the 100 hour timeframe.
- Price action traders may also wish to note that we see a pin bar candlestick pattern on Platinum. Given that we see downtrend on the 10 hourly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting.
- Of note is that the 20 hour changed directions on XPTUSD; it is now pointing down. The moving averages on the hourly timeframe suggest a bearishness in price, as the 20, 50, 100 and 200 are all in a bearish alignment — meaning the shorter duration moving averages are below the longer duration averages, implying a stable downward trend.
Platinum’s hourly price chart is shown below.
The Daily View for Platinum
- Currently, XPTUSD’s price is down $-14.84 (-1.25%) from the day prior.
- It’s been a feast for bears operating on the daily timeframe, as Platinum has now gone down 4 of the past 5 days.
- If you’re a trend trader, consider that the strongest clear trend on the daily chart exists on the 100 day timeframe.
- Most noteworthy in the world of moving averages on the daily chart is that the 50 day moving average has been crossed, with price now being below it. The moving averages on the daily timeframe suggest a bullishness in price, as the 20, 50, 100 and 200 are all in a bullish alignment — meaning the shorter durations are above the longer duration averages, implying a sound upward trend.
Below is a daily price chart of Platinum.