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 08/02/2024 (GMT)

Londinia

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Timeframe : 1H
- Analysis generated on
Status : INVALID

Summary of the analysis

Trends

Short term: Strongly bearish

Underlying: Bearish

Technical indicators

11%

72%

17%

My opinion

Bearish under 968.10 USD

My targets

956.98 USD (-0.69%)

951.36 USD (-1.27%)

My analysis

PLATINUM is part of a very strong bearish trend. Traders may consider trading only short positions (for sale) as long as the price remains well below 968.10 USD. The next support located at 956.98 USD is the next bearish objective to target. A bearish break of this support would revive the bearish momentum. The bearish movement could then continue towards the next support located at 951.36 USD. Below this support, sellers could then target 943.53 USD.

In the very short term, the general bearish sentiment is confirmed by technical indicators. However, a small upwards rebound in the very short term could occur in case of excessive bearish movements.

Force

5.5

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 rating is 963.60 USD. The price registered a decrease of -0.71% on the session and was traded between 961.40 USD and 984.40 USD over the period. The price is currently at +0.23% from its lowest and -2.11% from its highest.

961.40

984.40

963.60

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

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:

The Central Records scanner, which identifies the highest / lowest, has detected an element:

Near a new LOW record (1 month)

Type : Bearish

Timeframe : Weekly

Technical

A technical analysis in 1H of this PLATINUM chart shows a bearish trend. 67.86% of the signals given by moving averages are bearish. The overall trend is reinforced by the strong bearish signals from short-term moving averages. An assessment of moving averages reveals several bearish signals that could impact this trend:

Bearish trend reversal : Moving Average 20

Type : Bearish

Timeframe : 1 hour

Bearish trend reversal : adaptative moving average 50

Type : Bearish

Timeframe : 1 hour

Bearish trend reversal : adaptative moving average 100

Type : Bearish

Timeframe : 1 hour

Technical indicators are strongly bearish, suggesting that the price decline is expected to continue.
But beware of excesses. The Central Indicators scanner currently detects this:

CCI indicator is oversold : under -100

Type : Neutral

Timeframe : 1 hour

Williams %R indicator is oversold : under -80

Type : Neutral

Timeframe : 1 hour

The Central Indicators scanner found this result concerning these indicators:

Price is back over the pivot point

Type : Bullish

Timeframe : Weekly

Central Patterns, the scanner specializing in chart patterns, did not identify any signals.

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

Bullish doji star

Type : Bullish

Timeframe : 1 hour

ProTrendLines

Price

	S3	S2	S1	Price	R1	R2	R3
ProTrendLines	943.53	951.36	956.98	963.60	968.10	973.46	984.90
Change (%)	-2.08%	-1.27%	-0.69%	-	+0.47%	+1.02%	+2.21%
Change	-20.07	-12.24	-6.62	-	+4.50	+9.86	+21.30
Level	Minor	Intermediate	Intermediate	-	Major	Intermediate	Minor

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	940.63	953.77	962.13	975.27	983.63	996.77	1,005.13
Camarilla	964.59	966.56	968.53	970.50	972.47	974.44	976.41
Woodie	938.25	952.58	959.75	974.08	981.25	995.58	1,002.75
Fibonacci	953.77	961.98	967.05	975.27	983.48	988.55	996.77

Weekly

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	875.70	905.20	924.80	954.30	973.90	1,003.40	1,023.00
Camarilla	930.90	935.40	939.90	944.40	948.90	953.40	957.90
Woodie	870.75	902.73	919.85	951.83	968.95	1,000.93	1,018.05
Fibonacci	905.20	923.96	935.54	954.30	973.06	984.64	1,003.40

Monthly

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	805.10	869.90	920.20	985.00	1,035.30	1,100.10	1,150.40
Camarilla	938.85	949.40	959.95	970.50	981.05	991.60	1,002.15
Woodie	797.85	866.28	912.95	981.38	1,028.05	1,096.48	1,143.15
Fibonacci	869.90	913.87	941.03	985.00	1,028.97	1,056.13	1,100.10

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):	31.41
MACD (12,26,9):	-1.4600
Directional Movement:	-14.13
AROON (14):	-42.86
DEMA (21):	973.42
Parabolic SAR (0,02-0,02-0,2):	983.34
Elder Ray (13):	-10.55
Super Trend (3,10):	981.49
Zig ZAG (10):	961.70
VORTEX (21):	0.9300
Stochastique (14,3,5):	22.98
TEMA (21):	972.51
Williams %R (14):	-97.39
Chande Momentum Oscillator (20):	-13.00
Repulse (5,40,3):	-1.6000
ROCnROLL:	2
TRIX (15,9):	0.0000
Courbe Coppock:	0.50

MA7:	962.59
MA20:	982.86
MA50:	1,001.49
MA100:	993.10
MAexp7:	971.93
MAexp20:	974.95
MAexp50:	975.23
MAexp100:	971.92
Price / MA7:	+0.10%
Price / MA20:	-1.96%
Price / MA50:	-3.78%
Price / MA100:	-2.97%
Price / MAexp7:	-0.86%
Price / MAexp20:	-1.16%
Price / MAexp50:	-1.19%
Price / MAexp100:	-0.86%

Quotes : - 10 min delayed data - NYMEX Futures

News

Don't forget to follow the news on PLATINUM. At the time of publication of this analysis, the latest news was as follows:

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

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