PLATINUM - Daily - Technical analysis published on 04/03/2020 (GMT)
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- Timeframe : Daily
- - Analysis generated on
- Status : INVALID
Summary of the analysis
Trends
Court terme:
Strongly bearish
De fond:
Strongly bearish
Technical indicators
56%
22%
22%
My opinion
Bearish under 735.83 USD
My targets
625.47 USD (-14.32%)
596.80 USD (-18.25%)
My analysis
All elements being clearly bearish, it would be possible for traders to trade only short positions (for sale) on PLATINUM as long as the price remains well below 735.83 USD. The sellers” bearish objective is set at 625.47 USD. A bearish break of this support would revive the bearish momentum. The sellers could then target the support located at 596.80 USD. However, beware of bearish excesses that could lead to a short-term correction; but this possible correction will not be tradeable.
Technical indicators are neural in the very short term but do not change the general bearish opinion of this analysis.
FORCE
0
10
5
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This analysis was given by Vincent Launay. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
The PLATINUM rating is 730.00 USD. The price registered a decrease of +1.70% on the session and was traded between 712.80 USD and 734.90 USD over the period. The price is currently at +2.41% from its lowest and -0.67% from its highest.712.80
734.90
730.00
The Central Gaps scanner detects a bearish opening marking the presence of sellers ahead of buyers at the opening but not sufficiently marked to allow the price to register a quotation gap.
Bearish opening
Type : Bearish
Timeframe : Openning
So that you have an overall view of the price change, here is a table showing the variations over several periods:
Technical
A technical analysis in Daily of this PLATINUM chart shows a sharp bearish trend. 92.86% of the signals given by moving averages are bearish. This strongly bearish trend is supported by the strong bearish signals given by short-term moving averages. The Central Indicators scanner does not detect any result on moving averages that would impact this trend.
On the 18 technical indicators analysed, 10 are bullish, 4 are neutral and 4 are bearish. Caution: the Central Indicators scanner currently detects an excess:
Williams %R indicator is overbought : over -20
Type : Neutral
Timeframe : Daily
Pivot points : price is under support 1
Type : Neutral
Timeframe : Daily
Price is back over the pivot point
Type : Bullish
Timeframe : Daily
Price is back under the pivot point
Type : Bearish
Timeframe : Weekly
Williams %R indicator is back over -50
Type : Bullish
Timeframe : Daily
Central Patterns, the scanner specializing in chart patterns, did not identify any signals.
Central Candlesticks, the scanner specialised in Japanese candlesticks, detects a bullish signal that could support the hypothesis of a small rebound in the very short term:
Bullish harami
Type : Bullish
Timeframe : Daily
ProTrendLines
S1
R1
R2
R3
Price
| S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|
| ProTrendLines | 596.80 | 730.00 | 779.55 | 842.53 | 876.43 |
| Change (%) | -18.25% | - | +6.79% | +15.42% | +20.06% |
| Change | -133.20 | - | +49.55 | +112.53 | +146.43 |
| Level | Intermediate | - | Intermediate | Minor | Major |
Pivot points can also be used to set your price objectives. Here is the price situation in relation to pivot points:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 697.10 | 706.70 | 718.30 | 727.90 | 739.50 | 749.10 | 760.70 |
| Camarilla | 724.07 | 726.01 | 727.96 | 729.90 | 731.84 | 733.79 | 735.73 |
| Woodie | 698.10 | 707.20 | 719.30 | 728.40 | 740.50 | 749.60 | 761.70 |
| Fibonacci | 706.70 | 714.80 | 719.80 | 727.90 | 736.00 | 741.00 | 749.10 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 318.33 | 440.17 | 531.33 | 653.17 | 744.33 | 866.17 | 957.33 |
| Camarilla | 563.93 | 583.45 | 602.98 | 622.50 | 642.03 | 661.55 | 681.08 |
| Woodie | 303.00 | 432.50 | 516.00 | 645.50 | 729.00 | 858.50 | 942.00 |
| Fibonacci | 440.17 | 521.53 | 571.80 | 653.17 | 734.53 | 784.80 | 866.17 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 625.47 | 735.83 | 800.27 | 910.63 | 975.07 | 1,085.43 | 1,149.87 |
| Camarilla | 816.63 | 832.65 | 848.68 | 864.70 | 880.72 | 896.75 | 912.77 |
| Woodie | 602.50 | 724.35 | 777.30 | 899.15 | 952.10 | 1,073.95 | 1,126.90 |
| Fibonacci | 735.83 | 802.61 | 843.86 | 910.63 | 977.41 | 1,018.66 | 1,085.43 |
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): | 40.90 | |
| MACD (12,26,9): | -46.1100 | |
| Directional Movement: | -12.66 | |
| AROON (14): | -14.29 | |
| DEMA (21): | 679.65 | |
| Parabolic SAR (0,02-0,02-0,2): | 609.34 | |
| Elder Ray (13): | -9.66 | |
| Super Trend (3,10): | 811.72 | |
| Zig ZAG (10): | 717.80 | |
| VORTEX (21): | 0.8500 | |
| Stochastique (14,3,5): | 55.14 | |
| TEMA (21): | 677.33 | |
| Williams %R (14): | -39.16 | |
| Chande Momentum Oscillator (20): | 60.10 | |
| Repulse (5,40,3): | 1.6700 | |
| ROCnROLL: | 2 | |
| TRIX (15,9): | -1.0600 | |
| Courbe Coppock: | 21.44 |
| MA7: | 728.01 | |
| MA20: | 737.96 | |
| MA50: | 870.29 | |
| MA100: | 905.02 | |
| MAexp7: | 718.01 | |
| MAexp20: | 747.13 | |
| MAexp50: | 827.31 | |
| MAexp100: | 872.30 | |
| Price / MA7: | +0.27% | |
| Price / MA20: | -1.08% | |
| Price / MA50: | -16.12% | |
| Price / MA100: | -19.34% | |
| Price / MAexp7: | +1.67% | |
| Price / MAexp20: | -2.29% | |
| Price / MAexp50: | -11.76% | |
| Price / MAexp100: | -16.31% |
News
The last news published on PLATINUM at the time of the generation of this analysis was as follows:
-
Platinum Group Metals Ltd. - PLG Stock Chart Technical Analysis for 01-17-2020
-
Will platinum's bullish run continue? – 16th January 2020
-
Platinum Group Metals Ltd. - PLG Stock Chart Technical Analysis for 08-30-2019
-
Gold Recently Posted New 2019 Highs, While Silver And Platinum Languish
-
Will platinum break higher? – 28th February 2019
This member declared not having a position on this financial instrument or a related financial instrument.
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