Platinum Just Breached This Major Moving Average Level

The Hourly View for Platinum

  • Currently, XPTUSD’s price is down $-3.28 (-0.28%) from the hour prior.
  • The hourly chart shows that Platinum has seen 2 straight down hours.
  • As for the trend on the hourly timeframe, we see the clearest trend on the 50 hour timeframe.
  • 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

  • At the moment, XPTUSD’s price is down $-33.51 (-2.82%) from the day prior.
  • The daily chart shows that Platinum has seen 2 straight down days.
  • If you’re a trend trader, consider that the strongest clear trend on the daily chart exists on the 50 day timeframe.
  • Regarding moving averages, it should first be noted that price has crossed the 100 day moving average, resulting in them so that price is now turning below it. 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, 1874.6 USD (%-1.85, Buy) Trendline Sell Off you may find interesting:

XAUUSD, 1874.6 USD (%-1.85, Buy) is going along its trendline bt a bit sell off we must admit. Silver troy ounce (31.10 gram) 27.5 USD (percentage of -2.48, Neutral signaling) and Platinum , 1160.6 USD (-2.69 of pct, Buy). Ounce palladium 2839.5 USD (%-0.72) costs for traders.Copper 1 pound (0.4535 kg), 4.455 USD (with the percentage of -2.97, Buy) is being traded at the time written. American Dollar index (DXY) 90.509 is pushing itself (%0.67 Buy) on the line again.

BorsaMerkezi