Platinum Does it Again: Heads Up for the 4th Straight Day

The Hourly View for Platinum

  • At the moment, XPTUSD’s price is up $2.33 (0.21%) from the hour prior.
  • It’s been a feast for bulls operating on an hourly timeframe, as Platinum has now gone up 8 of the past 10 hours.
  • If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 50 hour 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 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 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.

XPTUSD

The Daily View for Platinum

  • At the time of this writing, XPTUSD’s price is up $8.04 (0.74%) from the day prior.
  • Platinum has seen its price go up 4 out of the past 5 days, thus creating some compelling opportunities for bulls.
  • If you’re a trend trader, consider that the strongest clear trend on the daily chart exists on the 20 day timeframe.
  • 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

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