PLATINUM - 1H - Technical analysis published on 08/14/2024 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : INVALID
Summary of the analysis
Trends
Short term:
Strongly bullish
Underlying:
Strongly bullish
Technical indicators
67%
11%
22%
My opinion
Bullish above 943.36 USD
My targets
955.00 USD (+0.77%)
965.70 USD (+1.90%)
My analysis
All elements being clearly bullish, it would be possible for traders to trade only long positions (at the time of purchase) on PLATINUM as long as the price remains well above 943.36 USD. The buyers' bullish objective is set at 955.00 USD. A bullish break in this resistance would boost the bullish momentum. The buyers could then target the resistance located at 965.70 USD. If there is any crossing, the next objective would be the resistance located at 984.50 USD. However, beware of bullish excesses that could lead to a possible short-term correction; but this possible correction would not be tradeable.
In the very short term, the general bullish sentiment is confirmed by technical indicators. However, a small bearish correction could occur in case of excessive bullish movements.
Force
0
10
7.5
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.
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Additional analysis
Quotes
The PLATINUM price is 947.70 USD. On the day, this instrument gained +0.19% and was between 936.60 USD and 949.20 USD. This implies that the price is at +1.19% from its lowest and at -0.16% from its highest.936.60
949.20
947.70
A bullish opening was detected by the Central Gaps scanner. Buyers are trying to impose a bullish momentum 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:
Near a new LOW record (1st january)
Type : Bearish
Timeframe : Weekly
Near a new LOW record (1 month)
Type : Bearish
Timeframe : Weekly
Technical
A technical analysis in 1H of this PLATINUM chart shows a strongly bullish trend. 89.29% of the signals given by moving averages are bullish. This strongly bullish trend is supported by the strong bullish signals given by short-term moving averages. The Central Indicators scanner detects bullish signals on moving averages that could impact this trend:
Bullish trend reversal : adaptative moving average 20
Type : Bullish
Timeframe : 1 hour
Bullish trend reversal : adaptative moving average 50
Type : Bullish
Timeframe : 1 hour
Bullish trend reversal : adaptative moving average 100
Type : Bullish
Timeframe : 1 hour
In fact, 12 technical indicators on 18 studied are currently bullish. Caution: the Central Indicators scanner currently detects an excess:
CCI indicator is overbought : over 100
Type : Neutral
Timeframe : 1 hour
Williams %R indicator is overbought : over -20
Type : Neutral
Timeframe : 1 hour
MACD crosses UP its Moving Average
Type : Bullish
Timeframe : 1 hour
Aroon indicator bullish trend
Type : Bullish
Timeframe : 1 hour
MACD indicator is back over 0
Type : Bullish
Timeframe : 1 hour
Price is back over the pivot point
Type : Bullish
Timeframe : Weekly
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:
Bearish doji star
Type : Bearish
Timeframe : 1 hour
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 913.18 | 924.42 | 943.36 | 947.70 | 948.77 | 955.00 | 965.70 |
| Change (%) | -3.64% | -2.46% | -0.46% | - | +0.11% | +0.77% | +1.90% |
| Change | -34.52 | -23.28 | -4.34 | - | +1.07 | +7.30 | +18.00 |
| Level | Intermediate | Intermediate | Intermediate | - | Major | Intermediate | Minor |
Attention could also be paid to pivot points to set price objectives:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 928.23 | 933.17 | 939.53 | 944.47 | 950.83 | 955.77 | 962.13 |
| Camarilla | 942.79 | 943.83 | 944.86 | 945.90 | 946.94 | 947.97 | 949.01 |
| Woodie | 928.95 | 933.53 | 940.25 | 944.83 | 951.55 | 956.13 | 962.85 |
| Fibonacci | 933.17 | 937.48 | 940.15 | 944.47 | 948.78 | 951.45 | 955.77 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 851.37 | 882.23 | 906.07 | 936.93 | 960.77 | 991.63 | 1,015.47 |
| Camarilla | 914.86 | 919.87 | 924.89 | 929.90 | 934.91 | 939.93 | 944.94 |
| Woodie | 847.85 | 880.48 | 902.55 | 935.18 | 957.25 | 989.88 | 1,011.95 |
| Fibonacci | 882.23 | 903.13 | 916.04 | 936.93 | 957.83 | 970.74 | 991.63 |
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 the technical indicators and moving averages at the time of publication of this technical analysis:
Technical indicators
Moving averages
| RSI (14): | 59.51 | |
| MACD (12,26,9): | 0.0000 | |
| Directional Movement: | 8.15 | |
| AROON (14): | -71.43 | |
| DEMA (21): | 943.10 | |
| Parabolic SAR (0,02-0,02-0,2): | 936.81 | |
| Elder Ray (13): | 4.49 | |
| Super Trend (3,10): | 937.04 | |
| Zig ZAG (10): | 948.30 | |
| VORTEX (21): | 1.0900 | |
| Stochastique (14,3,5): | 68.87 | |
| TEMA (21): | 942.81 | |
| Williams %R (14): | 0.00 | |
| Chande Momentum Oscillator (20): | 2.40 | |
| Repulse (5,40,3): | 0.9700 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | 0.0000 | |
| Courbe Coppock: | 0.42 |
| MA7: | 937.13 | |
| MA20: | 953.02 | |
| MA50: | 983.30 | |
| MA100: | 992.65 | |
| MAexp7: | 943.36 | |
| MAexp20: | 943.08 | |
| MAexp50: | 942.21 | |
| MAexp100: | 940.99 | |
| Price / MA7: | +1.13% | |
| Price / MA20: | -0.56% | |
| Price / MA50: | -3.62% | |
| Price / MA100: | -4.53% | |
| Price / MAexp7: | +0.46% | |
| Price / MAexp20: | +0.49% | |
| Price / MAexp50: | +0.58% | |
| Price / MAexp100: | +0.71% |
Quotes :
-
10 min delayed data
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NYMEX Futures
News
The latest news and videos published on PLATINUM at the time of the analysis were as follows:
-
Sylvania Platinum - executive interview
-
Queen's Platinum Jubilee attempt at record for longest ever picnic at Windsor Castle
-
Platinum Jubilee: Richard Griffin on the Queen's sense of humour
-
Platinum Jubilee: Highlights from the Queen's four-day celebrations
-
Platinum Jubilee: The People's Pageant delights crowds in London
This member declared not having a position on this financial instrument or a related financial instrument.
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