Trending Stocks
  • SP500
    3912.13 3.06%
  • FB
    184.02 -6.43%
  • MSFT
    267.73 3.41%
  • BRKA
    417443.15 3.75%
  • T
    20.99 1.84%
  • ADBE
    387.76 2.94%
  • MMM
    134.34 3.21%
  • AMZN
    116.47 3.58%
  • AAPL
    141.67 2.45%
  • NFLX
    190.87 5.03%
  • NVDA
    171.28 5.55%
  • TSLA
    737.19 4.52%

XPT/USD statistical and technical analysis

The current price of XPT/USD – Platinum Spot US Dollar is 1 162.00 (Jun 04, 2021). This commodity is mostly traded sideways this year. Dynamic movement could indicate further developments. Let us therefore look now at statistical and technical analyzes.

Based on a long-term analysis of historical data, the average positive and negative daily returns are approximately 1.03% and -1.07% , respectively. The estimated daily return in both directions based on their probability of occurrence is 0.53% and -0.50% . Friday´s return was only 0.43% , well below the first standard deviation. Our scoring is currently positive (1 ) for the month-on-month change and 2 for price indexation. Both scorings range from -3 up to 3 . Indexation is currently in the initial positive phase of the cycle. The development of the estimated cycles based on our analytical system is shown in the following chart.

XPT/USD daily price indexation Source: WALFIR

Different moving averages (MAs) help us better identify trends across multiple time frames. We use 3 basic MAs to find out which sentiment dominates each horizon. The purple line represents the monthly , the green line the 6 months and the yellow line the annual moving average. In the case of monthly MA, XPT/USD is clearly in bearish sentiment. The 6 months MA could be support for the price. The annual MA still supports bullish sentiment.

XPT/USD daily price development Source: WALFIR

In recent weeks, we have witnessed more declining trends that did not exceed 5 days. The total maximum in the measured period (last 3 years) is 7 days. Upward trends did not exceed more than 3 days in the same period. The total maximum for the last 3 years is 6 days. We could use the average long-term ATR (Average True Range) obtained from daily data (3.53% ) to estimate Stop Loss orders for our positions. The current value is 3.31% . Approximately 90% confidence interval (return between -2.40% and 2.40% ) is shown in the histogram below by a red rectangle.

XPT/USD daily return distribution Source: WALFIR

We could use the last decile of low to high returns (3.60% ) to estimate Profit Targets, as shown in the chart below.

XPT/USD daily low to high distribution Source: WALFIR

Basic technical analysis still supports long-term bullish sentiment as the commodity price creates higher highs and higher lows. The short-term outlook is more negative. XPT/USD is currently very close to the Fibonacci retracement level of 23.60% . This could be strong support for the price. However, we must see a movement above the short-term moving average and the psychological level of 1 200 . In the event of a further decline, there is the demand zone (green rectangle) with the psychological level of 1 100 . This scenario could also support the divergence between price development and the RSI, which was created from April to May.

XPT/USD basic technical analysis Source: TradingView

WALFIR Technologies is one of the three divisions of WALFIR s.r.o., which is based in Slovakia. The primary interests of this division are analytical, quantitative, and algorithmic...

Comments are closed.