Platinum (XPTUSD) Down 0.2%, Breaks Below 50 Day Average; Pin Bar Pattern Appearing on Chart

Platinum Daily Price Recap

The back and forth price flow continues for Platinum, which started today off at 764.4129 US dollars, down 0.2% ($1.5517) from the day prior. Relative to other instruments in the metals asset class, Platinum ranked 4th since the day prior in terms of percentage price change. Below is a daily price chart of Platinum.

Platinum Technical Analysis

Notably, Platinum crossed below its 50 day moving average yesterday. The clearest trend exists on the 90 day timeframe, which shows price moving down over that time. It should be noted, though, that a trend in the opposite direction, going up, exists on the 30 day timeframe. So if you expect the primary trend to resume, the counter trend may be providing an opportunity to sell rallies. For another vantage point, consider that Platinum’s price has gone up 5 of the previous 10 trading days. And for candlestick traders, a special treat: there is a pin bar pattern showing up on the charts as well. Rejoice!

Overheard on Twitter

Behold! Here are the top tweets related to Platinum:

  • From platinumquote:

    Hong Kong #Platinum #Price Morning Session Open: $772.9 USD per oz 2020-05-06 08:30:23 HKT

  • From platinumquote:

    New York Comex #Platinum #Price Close: $779.5 USD per oz 2020-05-05 13:30:23 EDT

  • From platinumquote:

    London & Zurich #Platinum #Price Close: $776.0 USD per oz 2020-05-05 15:00:23 UTC