Today, we're analysing Platinum Futures – and the market is showing some major technical shifts. On the weekly chart, we’ve seen a sharp rise, pushing prices to new 3-year highs.
Switching to the monthly chart, the picture gets even more compelling:
🔹 We've broken above two significant long-term downtrends — one dating back to 2008, and another from 2011.
🔹 The price has now hit the 200-month moving average at 1155. A close above this level could confirm a powerful breakout.
🔹 The measured upside target? A potential move to 1826, based on the 2020–2021 range.
In the short-to-medium term, keep an eye on these levels:
✅ Resistance at 1100 and 1348 (Feb 2021 high)
🛡️ Support ideally holds above 1081–1045 to maintain bullish momentum
📊 This is shaping up to be an exciting market with long-term potential.
Disclaimer:
The information posted on Trading View is for informative purposes and is not intended to constitute advice in any form, including but not limited to investment, accounting, tax, legal or regulatory advice. The information therefore has no regard to the specific investment objectives, financial situation or particular needs of any specific recipient. Opinions expressed are our current opinions as of the date appearing on Trading View only. All illustrations, forecasts or hypothetical data are for illustrative purposes only. The Society of Technical Analysts Ltd does not make representation that the information provided is appropriate for use in all jurisdictions or by all Investors or other potential Investors. Parties are therefore responsible for compliance with applicable local laws and regulations. The Society of Technical Analysts will not be held liable for any loss or damage resulting directly or indirectly from the use of any information on this site.
Switching to the monthly chart, the picture gets even more compelling:
🔹 We've broken above two significant long-term downtrends — one dating back to 2008, and another from 2011.
🔹 The price has now hit the 200-month moving average at 1155. A close above this level could confirm a powerful breakout.
🔹 The measured upside target? A potential move to 1826, based on the 2020–2021 range.
In the short-to-medium term, keep an eye on these levels:
✅ Resistance at 1100 and 1348 (Feb 2021 high)
🛡️ Support ideally holds above 1081–1045 to maintain bullish momentum
📊 This is shaping up to be an exciting market with long-term potential.
Disclaimer:
The information posted on Trading View is for informative purposes and is not intended to constitute advice in any form, including but not limited to investment, accounting, tax, legal or regulatory advice. The information therefore has no regard to the specific investment objectives, financial situation or particular needs of any specific recipient. Opinions expressed are our current opinions as of the date appearing on Trading View only. All illustrations, forecasts or hypothetical data are for illustrative purposes only. The Society of Technical Analysts Ltd does not make representation that the information provided is appropriate for use in all jurisdictions or by all Investors or other potential Investors. Parties are therefore responsible for compliance with applicable local laws and regulations. The Society of Technical Analysts will not be held liable for any loss or damage resulting directly or indirectly from the use of any information on this site.
The STA is the oldest technical analysis organisation in the world and to celebrate that fact, we have a free downloadable book on technical analysis here -
technicalanalysts.com
technicalanalysts.com
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
The STA is the oldest technical analysis organisation in the world and to celebrate that fact, we have a free downloadable book on technical analysis here -
technicalanalysts.com
technicalanalysts.com
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.