(Last Updated January 18, 2021)
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:
If we observe the 90 and 30 day timeframes, we see an uptrend in place for XPTUSD.
XPTUSD’s moving averages suggest the trend on a number of time horizons is bullish.
Below is a chart showing XPTUSD’s price with its moving averages.
Currently, XPTUSD’s price is up $8.83 (0.83%) from the week prior. Moreover, note that this move is a reversal from the week prior, which saw price move down. If you’re a trend trader, consider that the strongest clear trend on the weekly chart exists on the 10 week timeframe. Price action traders may also wish to note that we see a pin bar candlestick pattern on XPTUSD. Given that we see an uptrend on the 20 and 10 weekly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting. 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. The weekly chart below shows XPTUSD’s price action over the past year.
Relative to other instruments in the metals asset class, platinum ranked 2nd since the previous day in terms of percentage price change.
On a relative basis, platinum was the worst performer out of all 5 of the assets in the metals asset class today.
Platinum outperformed all 5 assets in the metals asset class since yesterday.
Relative to other instruments in the metals asset class, platinum ranked 3rd since the previous day in terms of percentage price change.
Or to view things another way, note that out of the past 14 days platinum’s price has gone up 7 them.
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 day prior.
Relative to other instruments in the metals asset class, platinum ranked 4th since the previous day in terms of percentage price change.
Relative to other instruments in the metals asset class, platinum ranked 4th since the previous day in terms of percentage price change.
Also of note is that on a 30 day basis price appears to be forming a base — which could the stage for it being a support/resistance level going forward.
For another vantage point, consider that platinum’s price has gone up 6 of the previous 10 trading days.