PLATINUM - 1H - Technical analysis published on 08/19/2024 (GMT)
- 87
- 0
- Timeframe : 1H
- - Analysis generated on
- Status : NEUTRAL
Summary of the analysis
Trends
Short term:
Bearish
Underlying:
Slightly bullish
Technical indicators
11%
72%
17%
My opinion
Neutral between 948.74 USD and 964.80 USD
My targets
-
My analysis
The basic trend is slightly bullish and the short term is tentatively bearish. With such a pattern, the price could just as easily move towards the first support as the first resistance. The first support is located at 948.74 USD. The first resistance is located at 964.80 USD. With no basic trend, it will be important to monitor the reaction of the price to the levels cited. A bearish break in the support could quickly reverse the basic trend. A bullish break in resistance would be welcome to boost the slightly bullish basic trend. On the other hand, if the price is blocked by support or resistance, it could be attractive to trade against the trend on the last short-term movement registered by PLATINUM.
In the very short term, technical indicators are bearish and could soon allow change to a bearish sentiment.
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Additional analysis
Quotes
The PLATINUM price is 955.70 USD. The price is lower by -0.70% since the last closing and was traded between 954.60 USD and 965.50 USD over the period. The price is currently at +0.12% from its lowest and -1.02% from its highest.954.60
965.50
955.70
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
Here is a more detailed summary of the historical variations registered by PLATINUM:
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 slightly bullish. 60.71% of the signals given by moving averages are bullish. Caution: the slightly bearish signals currently given by short-term moving averages indicate that this slightly bullish trend could be reversed. The Central Indicators market scanner currently does not detect any result that concerns moving averages.
In fact, according to the parameters integrated into the Central Analyzer system, 13 technical indicators out of 18 analysed are currently bearish. Caution: the Central Indicators scanner currently detects an excess:
CCI indicator is oversold : under -100
Type : Neutral
Timeframe : 1 hour
RSI indicator: bullish divergence
Type : Bullish
Timeframe : 1 hour
Williams %R indicator is oversold : under -80
Type : Neutral
Timeframe : 1 hour
No signals are given by Central Patterns, a market scanner specialised in chart patterns, resistances and supports.
Central Candlesticks, the scanner specialised in Japanese candlesticks, detects these bullish signals that could support the hypothesis of a small rebound in the very short term:
Bullish harami
Type : Bullish
Timeframe : 1 hour
Bullish harami cross
Type : Bullish
Timeframe : 1 hour
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 933.37 | 943.36 | 948.74 | 955.70 | 964.80 | 969.90 | 998.13 |
| Change (%) | -2.34% | -1.29% | -0.73% | - | +0.95% | +1.49% | +4.44% |
| Change | -22.33 | -12.34 | -6.96 | - | +9.10 | +14.20 | +42.43 |
| Level | Minor | Minor | Intermediate | - | Minor | 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 | 937.53 | 943.47 | 952.93 | 958.87 | 968.33 | 974.27 | 983.73 |
| Camarilla | 958.17 | 959.58 | 960.99 | 962.40 | 963.81 | 965.22 | 966.64 |
| Woodie | 939.30 | 944.35 | 954.70 | 959.75 | 970.10 | 975.15 | 985.50 |
| Fibonacci | 943.47 | 949.35 | 952.98 | 958.87 | 964.75 | 968.38 | 974.27 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 891.57 | 908.73 | 935.57 | 952.73 | 979.57 | 996.73 | 1,023.57 |
| Camarilla | 950.30 | 954.33 | 958.37 | 962.40 | 966.43 | 970.47 | 974.50 |
| Woodie | 896.40 | 911.15 | 940.40 | 955.15 | 984.40 | 999.15 | 1,028.40 |
| Fibonacci | 908.73 | 925.54 | 935.93 | 952.73 | 969.54 | 979.93 | 996.73 |
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): | 43.21 | |
| MACD (12,26,9): | -0.3700 | |
| Directional Movement: | -3.36 | |
| AROON (14): | -71.43 | |
| DEMA (21): | 959.20 | |
| Parabolic SAR (0,02-0,02-0,2): | 964.86 | |
| Elder Ray (13): | -2.88 | |
| Super Trend (3,10): | 951.80 | |
| Zig ZAG (10): | 955.80 | |
| VORTEX (21): | 0.9700 | |
| Stochastique (14,3,5): | 13.15 | |
| TEMA (21): | 956.95 | |
| Williams %R (14): | -88.99 | |
| Chande Momentum Oscillator (20): | -3.90 | |
| Repulse (5,40,3): | -0.3300 | |
| ROCnROLL: | -1 | |
| TRIX (15,9): | 0.0100 | |
| Courbe Coppock: | 0.63 |
| MA7: | 947.91 | |
| MA20: | 950.47 | |
| MA50: | 980.58 | |
| MA100: | 993.45 | |
| MAexp7: | 957.54 | |
| MAexp20: | 959.10 | |
| MAexp50: | 956.59 | |
| MAexp100: | 951.68 | |
| Price / MA7: | +0.82% | |
| Price / MA20: | +0.55% | |
| Price / MA50: | -2.54% | |
| Price / MA100: | -3.80% | |
| Price / MAexp7: | -0.19% | |
| Price / MAexp20: | -0.35% | |
| Price / MAexp50: | -0.09% | |
| Price / MAexp100: | +0.42% |
Quotes :
-
10 min delayed data
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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:
-
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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