Platinum (Globex) Weekly Commodity Futures Price Chart : NYMEX

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Weekly Commodity Futures Price Chart

Platinum (Globex) (NYMEX)

TFC Commodity Charts


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Contract Specifications:PL_,NYMEX
Trading Unit: 50 troy ounces
Tick Size: $0.10 (10 cents) per troy ounce, $5 per contract
Quoted Units: US $ per troy ounce
Initial Margin: $8,100   Maint Margin: $6,000
Contract Months: 15 months beginning with the current month and the next two consecutive months before moving into the quarterly cycle of January, April, July, and October.
First Notice Day: First business day of contract month.
Last Trading Day: Close of business on the fourth business day prior to the end of the delivery month.
Trading Hours: Electronic trading: 6:00 PM until 5:15 PM on CME Globex Platform.
New York time.
Daily Limit: see exchange

Analysis

Fri 7/18/14

Bollinger Bands Indicator:

Conventional Interpretation: The Bollinger Bands are indicating an overbought market. An overbought reading occurs when the close is nearer to the top band than the bottom band.

Additional Analysis: Volatility appears to be picking up a bit, as evidenced by an increasing distance between the upper and lower bands over the last few bars. The market is in overbought territory.

Mov Avg 3 lines Indicator:

Note: In evaluating the short term, plot1 represents the fast moving average, and plot2 is the slow moving average. For the longer term analysis, plot2 is the fast moving average and plot3 is the slow moving average

Conventional Interpretation - Short Term: The market is bullish because the fast moving average is above the slow moving average.

Additional Analysis - Short Term: Recently the market has been extremely bullish, however currently the market has lost a some of its bullishness due to the following: price is below the fast moving average. Its possible that we may see a market pullback here. if so, the pullback might turn out to be a good buying opportunity.

Conventional Interpretation - Long Term: The market is bullish because the fast moving average is above the slow moving average.

Additional Analysis - Long Term: The market is EXTREMELY BULLISH. Everything in this indicator is pointing to higher prices: the fast average is above the slow average; the fast average is on an upward slope from the previous bar; the slow average is on an upward slope from the previous bar; and price is above the fast average and the slow average.

Mov Avg-Exponential Indicator:

Conventional Interpretation: Price is above the moving average so the trend is up.

Additional Analysis: Market trend is UP.

Stochastic - Slow Indicator:

Conventional Interpretation: The stochastic is in overbought territory (SlowK is at 84.96); this indicates a possible market drop is coming.

Additional Analysis: The long term trend is UP. The short term trend is UP. Even though the stochastic is signaling that the market is overbought, don't be fooled looking for a top here because of this indicator. The stochastic indicator is only good at picking tops in a Bear Market (in which we are not). Exit long position only if some other indicator tells you to.

Swing Index Indicator:

Conventional Interpretation: The swing index has crossed zero, identifying this bar as a short term pivot point.

Additional Analysis: No additional interpretation.

Volatility Indicator: Volatility is in a downtrend based on a 9 bar moving average.

Volume Indicator:

Conventional Interpretation: No indications for volume.

Additional Analysis: The long term market trend, based on a 45 bar moving average, is UP. The short term market trend, based on a 5 bar moving average, is UP. Volume is trending lower. In general this is bearish.

Comm Channel Index Indicator:

Conventional Interpretation: CCI (115.07) recently crossed above the buy line into bullish territory, and is currently long. This long position should be liquidated when the CCI crosses back into the neutral center region.

Additional Analysis: CCI often misses the early part of a new move because of the large amount of time spent out of the market in the neutral region. Initiating signals when CCI crosses zero, rather than waiting for CCI to cross out of the neutral region can often help overcome this. Given this interpretation, CCI (115.07) is currently long. The current long position position will be reversed when the CCI crosses below zero.

MACD Indicator:

Conventional Interpretation: MACD is in bullish territory, but has not issued a signal here. MACD generates a signal when the FastMA crosses above or below the SlowMA.

Additional Analysis: The long term trend, based on a 45 bar moving average, is UP. The short term trend, based on a 9 bar moving average, is UP. MACD is in bullish territory. However, the recent downturn in the MacdMA may indicate a short term decline within the next few bars.

Momentum Indicator:

Conventional Interpretation: Momentum (60.30) is above zero, indicating an overbought market.

Additional Analysis: The long term trend, based on a 45 bar moving average, is UP. The short term trend, based on a 9 bar moving average, is UP. Momentum is in bullish territory.upside move is likely.

Open Interest Indicator: Open Interest is trending up based on a 9 bar moving average. This is normal as delivery approaches and indicates increased liquidity.

Rate of change Indicator:

Conventional Interpretation: Rate of Change (4.22) is above zero, indicating an overbought market.

Additional Analysis: The long term trend, based on a 45 bar moving average, is UP. The short term trend, based on a 9 bar moving average, is UP. Rate of Change is in bullish territory.

RSI Indicator:

Conventional Interpretation: RSI is in neutral territory. (RSI is at 56.31). This indicator issues buy signals when the RSI line dips below the bottom line into the oversold zone; a sell signal is generated when the RSI rises above the top line into the overbought zone.

Additional Analysis: RSI is somewhat overbought (RSI is at 56.31). However, this by itself isn't a strong enough indication to signal a trade. Look for additional evidence before getting too bearish here.

Stochastic - Fast Indicator:

Conventional Interpretation: The SlowK line crossed below the SlowD line; this indicates a sell signal.

Additional Analysis: The long term trend is UP. The short term trend is UP. Even though the stochastic is signaling that the market is overbought, don't be fooled looking for a top here because of this indicator. The stochastic indicator is only good at picking tops in a Bear Market (in which we are not). Exit long position only if some other indicator tells you to.

Important: This commentary is designed solely as a training tool for the understanding of technical analysis of the financial markets. It is not designed to provide any investment or other professional advice.

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