Platinum Trend May Be Changing as Price Just Breached Above Its 20 Day Moving Average

The Daily View for Platinum

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  • Platinum has seen its price go down 5 out of the past 5 days, thus creating some compelling opportunities for bears.
  • 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 day timeframes.
  • Regarding moving averages, it should first be noted that price has crossed the 100 and 50 day moving averages, resulting in them so that price is now turning below them. 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.
  • Divergence between XPTUSD’s price and its RSI may be manifesting. As such, be on the lookout for trend reversal in XPTUSD’s price.

Below is a daily price chart of Platinum.


Featured Platinum Idea From TradingView

Below is a trading comment entitled Another Fall of Crypto, Evergrande and Metals you may find interesting:

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