The Hourly View for Platinum
- Currently, XPTUSD’s price is up $2.46 (0.21%) from the hour prior.
- The hourly chart shows that Platinum has seen 2 straight up hours.
- Regarding the trend, note that the strongest trend exists on the 20 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.
The Daily View for Platinum
- At the time of this writing, XPTUSD’s price is down $-0.61 (-0.05%) from the day prior.
- This move is a reversal from the day prior, which saw price move up.
- As for the trend on the daily timeframe, we see the clearest trend on the 100 day timeframe.
- Price action traders may also wish to note that we see a pin bar candlestick pattern on Platinum. Given that we see an uptrend on the 20 daily candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting. With that said, traders should also note the downtrend on the 20 daily candle timeframe, so the meaning of the candles may require further exploration.
- 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.
Featured Platinum Idea From TradingView
Below is a trading comment entitled XPTUSD/XAUUSD you may find interesting:
rather late, but not done yet XPTUSD/XAUUSD as platinum gets set for (1192-1194) double bottom, the price of gold has stalled in the (1729-1734) double top range both pairs have recently caught a support 5 buy but I do believe platinum has more room to go^ platinum is the metal of the future