The Hourly View for Platinum
- At the time of this writing, XPTUSD’s price is down $-1.6 (-0.13%) from the hour prior.
- Platinum has seen its price go down 4 out of the past 5 hours, thus creating some compelling opportunities for bears.
- As for the trend on the hourly timeframe, we see the clearest trend on the 50 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.
Below is a daily price chart of Platinum.
Featured Platinum Idea From TradingView
Below is a trading comment entitled Lines, probabilities and outcome you may find interesting:
Haha, I have some people who PMed me and said my chart is way too simple and either way , I am right, arguing my analysis is weak and lack substance and all. It is OK if you do not accept my analysis, have your own ideas about how to chart or even put nasty comments about how lousy it is. We are all entitled to our own opinions. And like I said, trading can be a lonely game and to have a platform like TV and others for traders to share their thoughts or even vent their anger is a good thing. Trend lines in my chart are really straightforward. I used mainly support, resistance as a GUIDE and not a MUST HAPPEN kind of rule. So, in this Platinum chart, the price can fall to 1114.95 then rebound. But, it may not and continue to slide towards 1059.74.Those who followed me knew that I had a LONG Call on many commodities from Lumber to Soy to Cotton months ago and we did made good profits out of it. Now, we are facing some consolidation which is part and parcel of the price action. Now, the outcome is anyone guess but by relying on historical patterns based on longer term views like mo…