Platinum

(Last Updated October 22, 2020)

Hello! This is the news page for Platinum. Below you’ll find our daily market updates. Here’s a technical analysis summary of where things currently stand:

The Trend

As for trends on XPTUSD, we’re seeing a downtrend on shorter timeframes — but an uptrend on the 90 day timeframe. As such, traders with short positions should be aware of the uptrend in place on the longer timeframes.

XPTUSD Moving Averages

Nuances in the trend on XPTUSD can be understood by observing the behavior of its moving averages. The 20 and 100 day averages are pointing upwards, suggesting a bullish trend, in contrast to the downward-facing 50 and 200 day averages that imply a bearish trend.

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 up $26.12 (3.04%) 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 trader with a preference for rangebound markets, you may wish to note that there isn’t a clear trend on the 5, 10 and 20 week timeframes. Most noteworthy in the world of moving averages on the weekly chart is that the 20 and 50 week moving averages have been crossed, so that price is now turning above them. Looking further out, the moving averages on the weekly timeframe suggest a bearishness in price, as the 20 and 50 are all in a bearish alignment — meaning the shorter duration moving averages are below the longer duration averages, implying a stable downward trend. XPTUSD’s weekly price action over the past 52 weeks can be seen via the chart below.