Platinum Closed Yesterday Up 0.08%

The Hourly View for Platinum

  • Currently, XPTUSD’s price is down $-0.76 (-0.07%) from the hour prior.
  • The hourly chart shows that Platinum has seen 2 straight down hours.
  • Regarding the trend, note that the strongest trend exists on the 100 hour timeframe.
  • Price action traders may also wish to note that we see a doji candlestick pattern on Platinum. Given that we see an uptrend on the 20 hourly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting.
  • Regarding moving averages, it should first be noted that price has crossed the 50 hour moving average, resulting in them with price now being below it. 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.

XPTUSD

The Daily View for Platinum

  • Currently, XPTUSD’s price is up $0.95 (0.08%) from the day prior.
  • This move is a reversal from the day prior, which saw price move down.
  • If you’re a trend trader, consider that the strongest clear trend on the daily chart exists on the 50 day 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 daily candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting.
  • 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