Platinum (XPTUSD) Up $15.85 On 4 Hour Chart, Started Today Up 1.87%; Price Base in Formation Over Past 14 Days

Platinum Daily Price Recap

Platinum entered today at $864.15, up 1.87% ($15.85) from the previous day. Out of the 5 instruments in the metals asset class, Platinum ended up ranking 3rd for the day in terms of price change relative to the previous day. Let’s take a look at the daily price chart of Platinum.

XPTUSD

Platinum Technical Analysis

Moving average crossovers are always interesting, so let’s start there: Platinum crossed above its 200 day moving average yesterday. The clearest trend exists on the 90 day timeframe, which shows price moving up over that time. Interestingly, a trend in the other direction exists on the 30 day timeframe, where price is headed down. This may setup an interesting opportunity for traders looking to buy dips in anticipation of the primary trend resuming. Price action traders in particular will want to note that the 14 day period appears to show price forming a base; this could indicate that a support/resistance level is developing. For additional context, note that price has gone up 15 out of the past 30 days.

Overheard on Twitter

For laughs, fights, or genuinely useful information, let’s see what the most popular tweets pertaining to Platinum for the past day were:

  • From platinumquote:

    Hong Kong #Platinum #Price Morning Session Open: $863.7 USD per oz 2020-10-08 08:30:18 HKT