Hello! This is the news page for Platinum. Below you’ll find our daily market updates. Here’s a technical and fundamental summary of where things currently stand:
For Platinum, we have to zoom out to the 90 day timeframe and beyond to see a clear trend; at that point, a clear uptrend becomes apparent.
XPTUSD Moving Averages
XPTUSD’s moving averages tell a multi-facted story about its trend. Of the 20, 50, 100, and 200 day averages — three of them (all but the 20) — are bullish, implying a upward trend, save for a drop that occurred about 3 weeks ago.
Below is a chart showing XPTUSD’s price with its moving averages.
The View From the Weekly Timeframe
At the moment, XPTUSD’s price is down $-28 (-2.34%) from the week prior. It’s been a feast for bears operating on the weekly timeframe, as XPTUSD has now gone down 4 of the past 5 weeks. Regarding the trend, note that the strongest trend exists on the 20 week timeframe. Looking further out, the moving averages on the weekly timeframe suggest a choppiness in price, as the are all in a mixed alignment — meaning the trend across timeframes is inconsistent, indicating a potential opportunity for rangebound traders. XPTUSD’s weekly price action over the past 52 weeks can be seen via the chart below.