We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site.



Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events


Economic Calendar

Economic Calendar Events

Free Trading Guides
Oil - US Crude
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
Wall Street
More View more
Real Time News
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 97.06%, while traders in NZD/USD are at opposite extremes with 73.56%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/5rT7BVcp1G
  • Heads Up:🇺🇸 Fed Quarles Speech due at 17:00 GMT (15min) https://www.dailyfx.com/economic-calendar#2020-07-07
  • Trouble at the top? Only time will tell if the ascending channel from April holds $QQQ $Nasdaq https://t.co/SMF2556jJ6
  • Commodities Update: As of 16:00, these are your best and worst performers based on the London trading schedule: Oil - US Crude: 0.77% Gold: 0.66% Silver: 0.30% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/yNshNZVq0k
  • Forex Update: As of 16:00, these are your best and worst performers based on the London trading schedule: 🇬🇧GBP: 0.64% 🇳🇿NZD: 0.16% 🇨🇭CHF: 0.09% 🇯🇵JPY: -0.14% 🇪🇺EUR: -0.14% 🇨🇦CAD: -0.37% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/UoJWfwgBY4
  • Join @JStanleyFX 's #webinar at 1:00 PM ET/5:00 PM GMT for his weekly update on trading price action. Register here: https://t.co/yu1uNFb2tm https://t.co/V0xM1P4bgG
  • Indices Update: As of 16:00, these are your best and worst performers based on the London trading schedule: Germany 30: 0.08% France 40: 0.05% FTSE 100: 0.04% US 500: -0.07% Wall Street: -0.69% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/g52KMi4Ga9
  • Hey traders! What does the US session have for us this Tuesday? Get your market highlights from @DailyFX Chief Strategist @JohnKicklighter 👇 https://t.co/ud5efPsWVA
  • RT @RichardSnowFX: #GOLD poised between a historically significant area of resistance 1796 (weekly chart) and the lower bound of the curren…
  • #Dollar vs Mexican #Peso Price Outlook: $USDMXN Rally to be Short Lived - https://t.co/9ISCuLByBg https://t.co/epUl25QYrb
Platinum Price: Bullish Momentum Hinged on a Break Above the Monthly High

Platinum Price: Bullish Momentum Hinged on a Break Above the Monthly High

2019-06-12 16:00:00
Mahmoud Alkudsi, Analyst

Platinum Price Forecast

  • Platinum charts and analysis.
  • Platinum price, looking to start a bullish move.

Did we get it right with our various forecasts? Find out more for free from our Q2 USD and main currencies forecasts

Platinum Price – Correcting Higher

On Jun 5, platinum ended its bearish movement carving out a higher high at $833.3. On Jun 10 Platinum created a higher low at $796.9 leaning to the upside.

Alongside, the Relative Strength Index (RSI) pointed higher from 40 to 47.5 nearing the 50 level. Its worth noting that a cross above 50 would mean a start for a possible bullish trend.

Having trouble with your trading strategy?Here’s the #1 Mistake That Traders Make

Platinum DAILY PRICE CHART (Mar 1, 2019 – JUn 12, 2019) Zoomed In

Platinum price daily chart - 12-06-19 Zoomed In

Platinum DAILY PRICE CHART (May 11, 2017 – JUn 12, 2019) Zoomed OUT

Platinum price daily chart - 12-06-19 Zoomed Out

Looking at the daily chart we notice platinum failed to close lower since Jun 6 creating noticeable wicks and highlighting hesitation from the bears to send the price lower. Therefore, if the price closes above $817.0 it could mean a rally towards $844.8. However, the weekly resistance level at $822.0 and the Jun 5 high at $833.3 need to be watched closely.

On the flipside, a close below the Jun 10 low at $796.9 may lead the price towards $780.0. Although, the support level at the May 30 low at $788.5 is worth monitoring.

Just getting started?See our Beginners’ Guide for FX traders

Platinum Four-HOUR PRICE CHART (May27, 2019- JUN 12, 2019)

Platinum price 4H chart - 12-06-19

Looking at the four- hour chart we notice platinum rallied at the start of the week and carved out yesterday a higher low at $800.7. The price created after noticeable wicks followed with two bearish Doji patterns highlighting weakness in the bullish momentum.

A break below yesterday’s low mentioned above might lead the price towards the weekly low at $788.5. However, the support level at Jun 10 trough (weekly low) should be kept in focus.

In turn, if the bullish momentum resumes then a break above the weekly resistance at $822.0 could send the price higher towards the June 4 peak (the monthly high) at $833.3. The daily resistance at $827.0 need to be considered.

Written By: Mahmoud Alkudsi

Please feel free to contact me on Twitter: @Malkudsi

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.


News & Analysis at your fingertips.