Platinum’s 3 Day Up Streak Comes to an End

The Hourly View for Platinum

  • Currently, XPTUSD’s price is down $-6.01 (-0.49%) from the hour prior.
  • This move is a reversal from the hour prior, which saw price move up.
  • Regarding the trend, note that the strongest trend exists on the 100 hour timeframe.
  • Most noteworthy in the world of moving averages on the hourly chart is that the 20 and 200 hour moving averages have been crossed, with price now being below them. The moving averages on the hourly 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.

Platinum’s hourly price chart is shown below.

XPTUSD

The Daily View for Platinum

  • At the moment, XPTUSD’s price is down $-15.46 (-1.25%) from the day prior.
  • This move is a reversal from the day prior, which saw price move up.
  • Regarding the trend, note that the strongest trend exists on the 50 day timeframe.
  • Of note is that the 20 and 50 day changed directions on XPTUSD; they are now pointing down. The moving averages on the daily timeframe suggest a bullishness in price, as the 20, 50, 100 and 200 are all in a bullish alignment — meaning the shorter durations are above the longer duration averages, implying a sound upward trend.

Below is a daily price chart of Platinum.

XPTUSD

Featured Platinum Idea From TradingView

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