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 08/14/2024 (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

7.5

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 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:

The Central Records scanner, which identifies the highest / lowest, has detected several elements:

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

Other results related to technical indicators were also found by the Central Indicators scanner:

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

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 - NYMEX Futures

News

The latest news and videos published on PLATINUM at the time of the analysis were as follows:

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

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