Platinum Closed Yesterday Down -0.97%

The Hourly View for Platinum

  • At the time of this writing, XPTUSD’s price is down $-0.55 (-0.05%) 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.
  • Regarding the trend, note that the strongest trend exists on the 20 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 20 and 10 hourly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting.
  • 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

  • At the moment, XPTUSD’s price is down $-11.37 (-0.97%) from the day prior.
  • This move is a reversal from the day prior, which saw price move up.
  • If you’re a trend trader, consider that the strongest clear trend on the daily chart exists on the 50 day timeframe.
  • Of note is that the 50 day changed directions on XPTUSD; it is now pointing up. 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.


Featured Platinum Idea From TradingView

Below is a trading comment entitled XAUUSD Commodity Overlook you may find interesting:

Silver troy ounce (31.10 gram) 27.975 USD (percentage of 0.9, Strong Buy signaling) and Platinum , 1151.1 USD (-0.98 of pct, Buy). Ounce palladium 2781 USD (%-0.93) costs for traders.Copper 1 pound (0.4535 kg), 4.526 USD (with the percentage of -0.66, Neutral) is being traded at the time written. Besides this, XAUUSD, spot gold (oz), 1893.9 USD (%-0.03, Buy) is going along its trendline.American Dollar…