Stoploss.ch

Platinum - Swiss Franc Outlook

by Tim Straiton
Saturday 21st August 2021

Technical Review of Platinum/CHF
as of 8/20/2021

Close 913.43
200 period moving average: 1,015.71
14 day relative strength index: 40.08
The bearish trend of the MACD is losing momentum.

The ounce of platinum in Swiss Francs is currently trading at 913.43 which is 11.20% below its 200 period moving average. This instrument is trading above its daily pivot point of 894.28, which is a short term bullish factor.

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Looking further out, our proprietary medium term trend indicator is bearish. The Directional Market Index is negative. Weak trend action has been detected in this market, therefore it is unlikely that opening a position will result in significant returns at the current time..

In spite of the negtive medium term trend for platinum, the long term outlook suggests that downside potential is limited. The Fibonacci 61.8% retracement level from the recent 18 month range comes in at 800 where significant support can be expected. The 800 level also shows up on the long term quarterly chart as the Fibonacci 78.6% retracement line measured over the past 30 years and one can expect massive accumulation within this price area.

Disclaimer


Our opinions are not a recommendation to buy or sell a security. Your decision whether or not to open a
transaction should be based on your own due diligence and not on any representation we make to you.


 

Charts courtesy of

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