Platinum is Down for the 3rd Day in a Row

The Hourly View for Platinum

  • At the moment, XPTUSD’s price is down $-0.93 (-0.09%) 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 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 down $-1.33 (-0.12%) from the day prior.
  • This is the 3rd day in a row Platinum has seen its price head 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 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

Featured Platinum Idea From TradingView

Below is a trading comment entitled XAUUSD and Overview to Markets you may find interesting:

XAUTRYG Silver troy ounce (31.10 gram) 26.175 USD (percentage of 1.06, Buy signaling) and Platinum , 1059.2 USD (-0.78 of pct, Strong Sell). Ounce palladium 2787 USD (%3.95) costs for traders.Copper 1 pound (0.4535 kg), 4.2805 USD (with the percentage of 0.38, Buy) is being traded at the time written. Besides this, XAUUSD, spot gold (oz), 1770.1 USD (%0.37, Buy) is going along its trendline.American Dollar index (DXY) 92.44 is pushing itself (%0.4 Strong Buy) on the lin…

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