PLATINUM LATEST

PLATINUM BAR INTRADAY

TUESDAY 24. MAY

 KEYS:

• Are there changes in the weekly chart pattern?

• Is present seasonal period strong or weak?

• Are shorter term indicators strong or weak?

• Stop loss - adjustments?

• What about sitting on the sideline until next opportunity?

Jan 01. @ USD 966

Feb 01 .@ USD 1.023

Mar 01. @ USD 1.052

Apr 01. @ USD 982

May. 01. @ USD 940

Spot and nearby Platinum contracts

Discrepancies to Platinum live prices below as these are spot prices. All readings in the formulated charts and analysis related to nearest futures contacts

PLATINUM INTRADAY LIVE

PLATINUM SEASONALITY CHART

The Platinum seasonality chart compares this year to earlier years. Red signal market in a weaker seasonal period. Blue signal market in a stronger seasonal period.

 

PLATINUM IN 2022 AS OF 23. MAY CLOSE:

Seasonality : + 5.8%

Platinum prices: -1.6% 

Current period:  Weak until 27. June

PLATINUM PRICE DEVELOPMENT

Daily closings of Platinum prices in USD per OZ through the lens of strength and weakness.

PLATINUM THIS YEAR VS LAST YEAR

Platinum for the current year vs last year.

PLATINUM THIS YEAR VS 2 YEARS AGO

Platinum prices this year vs 2 years ago.

PLATINUM THIS YEAR VS 3 YEARS AGO

Platinum prices this year vs 3 years ago.

PLATINUM PRICE CHANGES

PLATINUM MACD AND RSI

These are daily indicators only. There is no directly Platinum price action in this chart above. What you see are formulated MACD and RSI levels to signal strength / weakness from Platinum prices.

PLATINUM INDICATOR ( i i )

Price is 'not' relevant in this pic above. It is simply showing strength derived from the Relative Strength Index  (Blue) and weakness (Red). The solid dark line is the price development.

PLATINUM WEEKLY ( Longer perspective )

Average Weekly trading range in 2022: USD 75.

This is an updated weekly chart of the nearest futures contracts of Platinum prices in USD from post every Friday. It is created from a modified formula of week's open high low and close to identify a clear picture of the ongoing trend. Now, scroll down to the Monthly chart to see the even longer perspective.

After week 20, there is a lower high on the weekly scale. The ongoing sideways trading pattern could end if prices are breaking below USD 900 or above 961.

After week 18, there is a marginally higher high and a higher low on a weekly scale, even though the bar is RED. The pattern is indicating potentally strength to come, rather than weakness but could turn up to only be a pause in the current prolonged downturn. 

After week 16, an outside Red bar is showing on the weekly scale. This is indicating weakness rather than strength.

After week 14, A new lower low and lower high on a weekly scale. Weakness over the last 4 weeks. Until exceeding USD 1.019 there is weakness to Platinum prices.

After week 12, Platinum is making a Red inside bar. It looks to be more weakness than strength to the weekly scale. Be reminded of the strong seasonality that started mid this week. 

After week 11, there is a clear lower low and a lower high on the weekly scale. This is in line with the weak seasonality lasting a few more days.

After week 10, Platinum continues the Blue bars. A weekly higher high a higher low signals further strength until trading below USD 1.060.

After week 09, Platinum weekly high and low are at the very same levels as last week. Even though, the latest Blue bar is indicating strength rather than weakness on a weekly scale.

After week 08, Platinum prices are lower but the chart is stronger on a weekly scale. The latest Blue bar is indicating strength rather than weakness. (Seasonality do favour weakess over the next phase).  Week high 1.132, week low 1.036.

After week 07, markets see a higher high on a weekly scale. The low point is AS IS last week. The clear Blue bar is indicating higher prices to come. Trades below USD 1.000 will question the upturn i the longer time frame.

After week 06, Platinum is sideways  ( - 0.5 % ), and holding up the Blue bars. The metal did not go hand in hand with Gold and Silver this week. The question is if its lagging and that a solid break from the "last 4 weeks range" could be cleared sooon. Low was USD 1 above this week, and there is a higher high.

After week 05, Platinum shows an inside blue bar on a weekly scale. A very short consolidation pre an upcoming breakout. 'Uptrend' to excced 1.049, and 'downtrend' to exceed 1.003.

After week 04, there is a higher high and a higher low on the weekly scale. The uptrend is intact and following seasonality.

After week 03, Platinum is making a higher low and a higher high on a weekly scale indicating higher prices to come. This is also in line with the current seasonality pattern.

Partners or associates to intraday.se do at times own positions in physical Platinum or Platinum futures. Read Disclaimer below.

PLATINUM MONTHLY ( loonger perspective )

The monthly tradingrange for Platinum prices in April was USD 131.

Mar. USD 243, Feb. USD 128, Jan. USD 145, Dec. USD 104, Nov. USD 190.

 

After April 2022: There is a clear lower low and a lower high on the monthly scale indicating weakness. Only trading above the latest high at USD 1.032 could potetially set new course.

After March 2022: Platinum is showing an outside bar. It could be too early to tell which direction the next monthly move is pointing towards. The colour of the bar is Blue signalling strength rather than weakness.

After February 2022: Platinum is having a higher high with a higher low in a Blue bar. This should count positively for stronger prices to come. Tradeing below USD 983 could ruin this potetial new uptrend.

After January 2022: the latest bar pushed up through USD 1.000. The monthly chart is showing a higher high and a higher low. This is positive rather than negative for higher prices (potentially) to come. 

After December 2021: Platinum is weak in the monthly chart with its lower low and lower high. There is little strength below USD 1.000.

After November 2021: Platinum saw an outside Red bar for the month. More direction is needed to see where this is heading next. The last 3 December's has been strong.  

PLATINUM MONTHLY PRICE CHANGES

How Platinum performs each and every month from January 2001 - December 2021.

PLATINUM MONTHLY #PLATINUMMONTHLY

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PLATINUM QUARTERLY

Platinum quarterly developments. Q1 2022 ranged USD 278 low to high or high to low. This may differ from the look of the formulated chart below.

This chart shows the development of Platinum prices per quarter, where each bar counts as one quarter (3 mnths) of trading activity. Q1 = Jan - Mar,  Q2 = Apr - Jun, Q3 = Jul - Sep, Q4 = Oct - Dec.

After Q1 2022, Platinum prices are making a higher high and a higher low on a quarterly scale. This could potentially trigger higher rather than lower prices in Q2.

PLATINUM PRICES YEAR BY YEAR

Platinum yearly chart of Platinum prices, every year since 1970.

In 2021, Platinum prices ranged USD 462 (down from USD 531 in 2020) from low to high or high to low. The chart above is created as an Heikin Ashi chart, thereby given different outcomes of highs and lows than a normal bar chart because of its formula.

The strongest message from this chart is the importantance of a bar's higher high and higher low (lower low and lower high) indicating further development.

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PLATINUM WEEKLY IN 2021

This section is an overview of Platinum comments in 2021.

Platinum weekly in 2021

Each bar is derived from one week of trading activity.

After week 52, there is a stronger bar recognized through the higher high and higher low. This should act as a positive for higher prices to come.

After week 50, there is another bar containing a lower low and a lower high. Let's see if week 51 sees strength in conjuction to the stronger seasoal period emerging. USD 960 was the high of the week.

After week 49, Platinum prices are weak continuing on the weekly scale, showing a lower low and a lower high. Highpoint is USD 986.

After week 48, Platinum see weakness on a weekly scale showing a lower low and a lower high. The seasonal trend continues to be weak pre x-mas.

After week 47, last weeks 1.033 low was validated big time, and prices are now showing a clear lower low and lower high on the weekly scale with low point 945 and high poit 1.059.

After week 46, a higher high but an equal low compared to last week. Low point at 1.033.

After week 45, the weekly scale shows a higher high signalling further pot. strength.

After week 43, a pause is created in the wait for direction. USD 1.005 is key to not see lower prices over the next phase.

After week 42, a higher high and a higher low continues for the latest weekly bar. 1.010 is not to be violated for the current up-trend to stay intact.

After week 41, Platinum is showing a beautiful higher high and a higher low. This is a positive for the metal going forward. Low-point is 981.

After week 40, there is a higher high in the weekly chart. Attempting to make a change in trend. In week 41, markets should look for a higher high (above 1.042) and a higher low (above 939).

After week 39, platinum prices are making a higher low in the weekly timeset. Yet to show a higher high in order to show possibly a change to the current downtrend.

After week 38, Platinum prices are higher and lower than the previous week, showing an outside bar. This can turn out both ways, but the longer trend is still down.

After week 37, prices are heavy and needs to pass the USD 1.000 level to change in downtrend.

After week 36, looking quite weak unless markets trades back above 1.026.

After week 35, attempting to go higher but might not be convincing just yet.

After week 34, in this weekly chart, there is still a strong downtrend for Platinum until markets surpass 1.020 and stays there.

Intraday Platinum