• XAU
    2010.5 USD 0.48%
  • XCU
    3.73 USD -1.34%
  • XPD
    1478 USD -0.78%
  • XPT
    1048 USD 0.64%
  • ALU
    2243.47 USD -2.23%
  • RICE
    18 USD -1.75%
    74.17 USD -1.32%
    14.35 USD -0.66%
  • NG
    2.27 USD 0.27%
    256.22 USD -1.15%
    70.04 USD -2.02%
  • XAG
    23.96 USD -0.14%

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...


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