PLATINUM
PLATINUM
893.00 USD (+0.26%)
EOD data - NYMEX Futures
Open: 891.00
Change: +2.30
Volume: 11,829
Low: 884.50
High: 894.20
High / Low range: 9.70
Type: Commodities
Ticker: PL
ISIN:

PLATINUM - Daily - Technical analysis published on 08/23/2019

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  • Timeframe : Daily
  • Status : TARGET REACHED

Summary of the analysis

Trends
Court terme: Bullish
De fond: Strongly bullish
Technical indicators
56%
17%
28%
My opinion
Bullish above 861.10 USD
My targets
876.34 USD (+1.68%)
912.90 USD (+5.92%)
My analysis
The basic bullish trend is very strong on PLATINUM but the short term shows some signs of running out of steam. However, a purchase could be considered as long as the price remains above 861.10 USD. Crossing the first resistance at 876.34 USD would be a sign of a potential new surge in the price. Buyers would then use the next resistance located at 912.90 USD as an objective. Crossing it would then enable buyers to target 961.70 USD. Caution, a return to below 861.10 USD would be a sign of a consolidation phase in the short-term basic trend. If this is the case, remember that trading against the trend may be riskier. It would seem more appropriate to wait for a signal indicating reversal of the trend.

Complete this analysis for another time unit:
Weekly
Attention: This analysis is for information purposes only and does not constitute personalized investment advice or an incentive to buy or sell financial instruments. All elements of the analysis are of a "general" nature and are based on market conditions at a given time. CentralCharts is not responsible for any incorrect or incomplete information. Every investor must judge for themselves before investing in a financial product so as to adapt it to their financial, tax and legal situation. CentralCharts shall not, under any circumstances, be liable for any loss or lower income incurred as a result of reading this analysis. Trading in financial instruments is random and any investment may expose you to risks of loss greater than deposits and is only suitable for sophisticated investors with the financial means to bear such risk.

Additional analysis

Quotes

The PLATINUM price is 861.90 USD. The price has increased by +0.44% since the last closing with the lowest point at 848.10 USD and the highest point at 863.40 USD. The deviation from the price is +1.63% for the low point and -0.17% for the high point.

848.10
863.40
861.90

The Central Gaps scanner detects a bullish opening. A small advantage for buyers in the very short term.

Central Gaps

Bullish opening

Type : Bullish

Timeframe : Openning



So that you have an overall view of the price change, here is a table showing the variations over several periods:

Technical


Technical analysis of this Daily chart of PLATINUM indicates that the overall trend is strongly bullish. The signals given by moving averages are 85.71% bullish. This strongly bullish trend seems to be running out of steam given the signals being given by short-term moving averages. The Central Indicators scanner does not detect any result on moving averages that would impact this trend.

In fact, 10 technical indicators on 18 studied are currently positioned bullish. Central Indicators, the detector scanner for these technical indicators has recently detected several signals:

Central Indicators

RSI indicator is back under 50

Type : Bearish

Timeframe : Daily


Price is back over the pivot point

Type : Bullish

Timeframe : Weekly


Momentum indicator is back under 0

Type : Bearish

Timeframe : Daily



No signals are given by Central Patterns, a market scanner specialised in chart patterns, resistances and supports.

For a small setback in the very short term, the Central Candlesticks scanner currently notes the presence of this bearish pattern in Japanese candlesticks:

Central Candlesticks

Bearish harami

Type : Bearish

Timeframe : Daily




ProTrendLines
S3
S2
S1
R1
R2
R3
Price


S3S2S1PriceR1R2R3
ProTrendLines 811.70 826.96 861.10 861.90 876.34 912.90 961.70
Change (%) -5.82% -4.05% -0.09% - +1.68% +5.92% +11.58%
Change -50.20 -34.94 -0.80 - +14.44 +51.00 +99.80
Level Minor Major Major - Major Minor Minor



Attention could also be paid to pivot points to set price objectives:

Daily
Pivot points S3 S2 S1 PP R1 R2 R3
Standard835.70841.40847.10852.80858.50864.20869.90
Camarilla849.67850.71851.76852.80853.85854.89855.94
Woodie835.70841.40847.10852.80858.50864.20869.90
Fibonacci841.40845.76848.45852.80857.16859.85864.20


Weekly
Pivot points S3 S2 S1 PP R1 R2 R3
Standard820.70833.20848.50861.00876.30888.80904.10
Camarilla856.16858.70861.25863.80866.35868.90871.45
Woodie822.10833.90849.90861.70877.70889.50905.50
Fibonacci833.20843.82850.38861.00871.62878.18888.80


Monthly
Pivot points S3 S2 S1 PP R1 R2 R3
Standard746.83777.57828.23858.97909.63940.37991.03
Camarilla856.52863.98871.44878.90886.36893.82901.29
Woodie756.80782.55838.20863.95919.60945.351,001.00
Fibonacci777.57808.66827.87858.97890.06909.27940.37

Numerical data


The following is the status of technical indicators and moving averages registered at the time this technical analysis was created:

Technical indicators
Moving averages

RSI (14): 52.29
MACD (12,26,9): 1.9500
Directional Movement: -2.73
AROON (14): -50.00
DEMA (21): 859.98
Parabolic SAR (0,02-0,02-0,2): 860.90
Elder Ray (13): -5.44
Super Trend (3,10): 831.52
Zig ZAG (10): 858.10
VORTEX (21): 0.9600
Stochastique (14,3,5): 50.31
TEMA (21): 855.85
Williams %R (14): -40.21
Chande Momentum Oscillator (20): 0.20
Repulse (5,40,3): 2.1100
ROCnROLL: 1
TRIX (15,9): 0.0800
Courbe Coppock: 2.64
MA7: 852.70
MA20: 861.28
MA50: 841.75
MA100: 847.89
MAexp7: 855.18
MAexp20: 855.74
MAexp50: 848.47
MAexp100: 843.32
Price / MA7: +1.08%
Price / MA20: +0.07%
Price / MA50: +2.39%
Price / MA100: +1.65%
Price / MAexp7: +0.79%
Price / MAexp20: +0.72%
Price / MAexp50: +1.58%
Price / MAexp100: +2.20%

News


The last news published on PLATINUM at the time of the generation of this analysis was as follows:

This member declared not having a position on this financial instrument or a related instrument.

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