The Hourly View for Platinum
- At the time of this writing, XPTUSD’s price is up $3.87 (0.32%) from the hour prior.
- The hourly chart shows that Platinum has seen 2 straight up hours.
- If you’re a trader with a preference for rangebound markets, you may wish to note that there isn’t a clear trend on the 20, 50 and 100 hour timeframes.
- 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 moment, XPTUSD’s price is up $3.5 (0.29%) from the day prior.
- This is a reversal of the price action on the previous day, in which price moved down.
- 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 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 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