PLATINUM

- USD (-)

- 10 min delayed data - NYMEX Futures

Open:	-
Change:	-
Volume:	-

Low:	-
High:	-
High / Low range:	-

Type:	Commodities
Ticker:	PL
ISIN:

PLATINUM - 1H - Technical analysis published on 07/26/2024 (GMT)

Londinia

I am pleased to note that the threshold for invalidation has been maintained for 20 Candlesticks.
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Timeframe : 1H
- Analysis generated on
Status : LEVEL MAINTAINED

Summary of the analysis

Trends

Short term: Neutral

Underlying: Bearish

Technical indicators

56%

17%

28%

My opinion

Bearish under 950.85 USD

My targets

934.30 USD (-1.31%)

907.58 USD (-4.13%)

My analysis

We are currently in a phase of short-term indecision. In a case like this, you could favour trades in the direction of the basic trend on PLATINUM. As long as you are under the resistance located at 950.85 USD, traders with an aggressive trading strategy could consider a sale. A cross of the support located at 934.30 USD would be a signal of a reversal in the basic trend and the short-term trend could then quickly become bearish. Sellers would then use the next support located at 907.58 USD as an objective. Crossing it would then enable sellers to target 886.24 USD. If the resistance 950.85 USD were to be broken, this would simply be a sign of possible further short-term consolidation and trading against this trend would then perhaps be more risky.

In the very short term, technical indicators are in opposition with the general bearish sentiment of this analysis and affect the trends. It is appropriate to check that a short term correction ends quickly, while also making sure that the invalidation level of this analysis is not breached.

Force

2.7

Comment on the analysis

Warning: This content is for information purposes only and in no way constitutes investment advice or any incentive whatsoever 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 instrument 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 content. 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.

This analysis was given by Charts central. Take part yourself by sharing additional analysis on another time unit:

Additional analysis

Quotes

The PLATINUM price is 946.70 USD. On the day, this instrument gained +0.11% with the lowest point at 941.10 USD and the highest point at 947.20 USD. The deviation from the price is +0.60% for the low point and -0.05% for the high point.

941.10

947.20

946.70

A bearish opening was detected by the Central Gaps scanner. Sellers are trying to impose a bearish trend in the very short term.

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:

The Central Records scanner for higher/lower results shows the following items:

Near a new LOW record (1st january)

Type : Bearish

Timeframe : Weekly

Near a new LOW record (1 month)

Type : Bearish

Timeframe : Weekly

Technical

Technical analysis of this 1H chart of PLATINUM indicates that the overall trend is bearish. 78.57% of the signals given by moving averages are bearish. Caution: as the signals currently given by short-term moving averages are rather neutral, the bearish trend could slow down. The Central Indicators scanner detects a bullish signal on moving averages that could impact this trend:

Bullish price crossover with Moving Average 20

Type : Bullish

Timeframe : 1 hour

In fact, according to the parameters integrated into the Central Analyzer system, 10 technical indicators out of 18 analysed are currently bullish. The Central Indicators scanner specialised in technical indicators, has not detected anything further.

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

There is also a Japanese candlestick pattern detected by Central Candlesticks that could mark the end of the current short-term trend:

White hanging man / hammer

Type : Neutral

Timeframe : 1 hour

ProTrendLines

Price

	S3	S2	S1	Price	R1	R2	R3
ProTrendLines	886.24	907.58	934.30	946.70	950.85	973.12	998.13
Change (%)	-6.39%	-4.13%	-1.31%	-	+0.44%	+2.79%	+5.43%
Change	-60.46	-39.12	-12.40	-	+4.15	+26.42	+51.43
Level	Intermediate	Intermediate	Intermediate	-	Major	Intermediate	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	908.03	922.37	933.43	947.77	958.83	973.17	984.23
Camarilla	937.52	939.84	942.17	944.50	946.83	949.16	951.49
Woodie	906.40	921.55	931.80	946.95	957.20	972.35	982.60
Fibonacci	922.37	932.07	938.06	947.77	957.47	963.46	973.17

Weekly

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	865.50	914.50	944.20	993.20	1,022.90	1,071.90	1,101.60
Camarilla	952.26	959.47	966.69	973.90	981.11	988.33	995.54
Woodie	855.85	909.68	934.55	988.38	1,013.25	1,067.08	1,091.95
Fibonacci	914.50	944.56	963.14	993.20	1,023.26	1,041.84	1,071.90

Monthly

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	832.23	895.97	942.33	1,006.07	1,052.43	1,116.17	1,162.53
Camarilla	958.42	968.52	978.61	988.70	998.79	1,008.89	1,018.98
Woodie	823.55	891.63	933.65	1,001.73	1,043.75	1,111.83	1,153.85
Fibonacci	895.97	938.03	964.01	1,006.07	1,048.13	1,074.11	1,116.17

Numerical data

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

Technical indicators

Moving averages

RSI (14):	44.10
MACD (12,26,9):	-2.8000
Directional Movement:	-9.71
AROON (14):	14.28
DEMA (21):	942.38
Parabolic SAR (0,02-0,02-0,2):	946.68
Elder Ray (13):	-1.61
Super Trend (3,10):	954.34
Zig ZAG (10):	945.50
VORTEX (21):	0.9400
Stochastique (14,3,5):	63.57
TEMA (21):	942.30
Williams %R (14):	-26.72
Chande Momentum Oscillator (20):	5.80
Repulse (5,40,3):	0.3300
ROCnROLL:	-1
TRIX (15,9):	-0.0500
Courbe Coppock:	0.28

MA7:	961.81
MA20:	994.02
MA50:	1,010.80
MA100:	992.70
MAexp7:	944.62
MAexp20:	946.36
MAexp50:	952.00
MAexp100:	960.47
Price / MA7:	-1.57%
Price / MA20:	-4.76%
Price / MA50:	-6.34%
Price / MA100:	-4.63%
Price / MAexp7:	+0.22%
Price / MAexp20:	+0.04%
Price / MAexp50:	-0.56%
Price / MAexp100:	-1.43%

Quotes : - 10 min delayed data - NYMEX Futures

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 financial instrument.

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