Platinum (XPTUSD) Down $48.63 On 4 Hour Chart, Fares the Worst Out of metals; Crosses 100 and 200 Day Moving Averages

Platinum Daily Price Recap

848.2994 was the closing price of the day for Platinum, resulting in today being one in which price moved down 5.42% ($48.63) from yesterday. Those trading within the metals asset class should know that Platinum was the worst performer in the class today. Here is a daily price chart of Platinum.

XPTUSD

Platinum Technical Analysis

Notably, Platinum crossed below its 100 and 200 day moving averages yesterday. The clearest trend exists on the 90 day timeframe, which shows price moving up over that time. It should be noted, though, that a trend in the opposite direction, going down, exists on the 30 day timeframe. So if you expect the primary trend to resume, the counter trend may be providing an opportunity to buy dips. For additional context, note that price has gone up 6 out of the past 10 days. Traders may also wish to note that there is a bearish engulfing pattern in play, which suggests the uptrend on the 90 and 30 day charts, may be slowing down and ready to reverse.

Overheard on Twitter

Behold! Here are the top tweets related to Platinum:

  • From platinumquote:

    Hong Kong #Platinum #Price Morning Session Open: $903.1 USD per oz 2020-10-06 08:30:18 HKT