Platinum

Platinum closed down by -5.12% to 1079.85 on 23 January 2021 and +-3.13% on a weekly basis. Platinum momentum was last calculated at +100.0/100 indicating positive momentum. Platinum trend is +100.0/100 indicating a positive trend. Platinum momentum exhaustion is 2.41564 indicating Platinum is oversold.Platinum RSI is 73.2794 .

Platinum Chart

Platinum

Platinum Statistics

Security Symbol Last Momentum Trend Oscillator RSI 1D% 1W% 1M% 1Y%
Platinum PL 1079.85 1 1 2.41564 73.2794 -5.12 -3.13 -12.95 0.4655

Platinum closed at 1079.85 on 23 January 2021. Platinum trend was last calculated at +100.0/100 (range: -100 to +100) indicating a positive trend based on MacroVar models. Platinum momentum was last calculated at +100.0/100 (range: -100 to +100) indicating positive momentum. Platinum momentum exhaustion is 2.41564 (normal range: -2.5 to +2.5, overbought values: greater than 2.5, oversold values: less than 2.5) indicating Platinum is oversold and a possible reversal is imminent. Platinum RSI was last calculated at 73.2794. Platinum moving averages were last recorded as follows: 1-month moving average: 1048.72 in an uptrend , 1-quarter moving average: 974.662 in an uptrend and 1-year moving average: 882.312 in an uptrend. Platinum annual return was last recorded at None%, daily return was last recorded at -5.12%, and weekly return was last recorded at -3.13%. Platinum histrorical 20-day volatility was last recorded at 20.365%, Platinum alpha None, Platinum beta None and Platinum maximum drawdown was recorded at None%. MacroVar models monitor Platinum statistics based on historical data since 1970.

Platinum Trading Signals

MacroVar estimates the following signals: Platinum momentum, Platinum trend, Platinum oscillator, Platinum RSI and Platinum returns.

Platinum Momentum

Momentum trading is used to capture moves in shorter timeframes than trends. Momentum is the relative change occurring in markets. Relative change is different to a trend. A long-term trend can be up but the short-term momentum of a specific market can be 0. If a market moves down and then moves up and then moves back down the net relative change in price is 0. That means momentum is 0. A short-term positive momentum, with a long-term downtrend results in markets with no momentum.

MacroVar Platinum momentum signal ranges from -100 to +100. The Platinum momentum signal is derived as the mean value from 4 calculations for the China Import Dry Bulk Freight Index CDFI. The timeframes monitored are the following: 1 Day (1 trading day), 1 Week (5 trading days), 1 Month (20 trading days), 3 Months (60 trading days)
For each timeframe, the following calculations are performed: 1. Platinum return is calculated for the specific timeframe and 2. if the return calculated is higher than 0, signal value output is 1 else signal value is -1. Platinum BADI momentum signal is the aggregate of the the 4 values. A technical momentum rollover is identified when Platinum momentum signal moves from positive to negative value or vice-versa.

Platinum Trend

Platinum trend signal ranges from -100 to +100. Platinum trend indicator is the mean value of the 8 calculations described below. The timeframes monitored are the following: 1-month (20 trading days), 3-months (60 trading days), 6-months (125 trading days), 1-year (250 trading days)
For each timeframe, the following calculations are performed: 1. Platinum Closing price vs Platinum moving average (MA) calculation: If Platinum is greater than Platinum MA value is +1, else -1, 2. Platinum Moving average slope calculation: if current Platinum moving average is higher than the previous MA, Platinum upward slope +1, else -1
Platinum trend model can be used as a trend strength indicator. Platinum trend strength values ranging between +75 and +100 or -75 and -100 show strong trend strength.
A technical trend rollover is identified when Platinum trend strength indicator moves from positive to negative value or vice-versa.

The most important trend indicator
The Platinum 52-week simple moving average and its slope are the most important indicators defining a market’s trend. Platinum is in an uptrend when Platinum price is higher than the 52-week moving average and the Platinum 52-week moving average has an upward slope. If fundamentals of the market have not changed and the moving average slope is still in uptrend, a price drop signifies a market correction and not a change of trend. Traders should watch oscillators like the Platinum oscillator and Platinum RSI to buy the dip and still follow the trend. The moving average slope turn signifies a change of trend.

Platinum Oscillator

The Platinum oscillator estimated by MacroVar is the z-score of the current Platinum price versus Platinum 1-year simple moving average price. The formula for the Platinum oscillator is:
Platinum oscillator = (Current Price – 250 trading days Platinum simple moving average price) / (250 days Platinum price standard deviation)

Platinum oversold conditions
Platinum is oversold when it is subject to a persistent downward pressure due to extreme fund outflows. When the Platinum is oversold it is often due for a rebound. Values of the Platinum oscillator lower than -2.5 signify oversold conditions. It must be noted that the Platinum oscillator must be analyzed ibn conjunction with the rest of Platinum quantitative factors. Traders should pay less attention to overbought or oversold conditions during strong trends. They should pay close attention during counter trends and all combined with the Platinum RSI.
Platinum overbought conditions
Platinum is overbought when it is subject to a persistent upward pressure due to extreme fund inflows. When the Platinum is overbought it is often due for a correction. Values of the Platinum oscillator higher than +2.5 signify overbought conditions. It must be noted that the MacroVar oscillator must be compared to the rest of the Platinum quantitative factors. Traders should pay less attention to overbought or oversold conditions during strong trends. They should pay close attention during counter trends and all combined with the RSI.

Platinum RSI Indicator

The RSI indicator measures the speed and change of price movements. The RSI indicator oscillates between 0 and 100. RSI is a useful indicator during normal trending market conditions when an asset price oscillates around its trend value. During big moves and strong trends however, like short squeezes or price spikes RSI and other oscillators don’t work.
During normal trend market conditions and when Platinum is in a downtrend RSI values between 50-60 signify overbought conditions before the downtrend is ready to resume. During Platinum uptrend, RSI values of 40 to 50 signify oversold conditions before the uptrend is ready to resume. It is strongly not recommended to enter a position when the RSI is “overbought” and falling or vice versa.

Platinum Returns

MacroVar calculates Platinum returns for the following timeframes: Daily, Weekly, Monthly, Yearly. The formula for calculating returns is:

Platinum returns = (Platinum Closing Price Previous Price)/(Platinum Previous Price)

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