Technical Analysis XPTUSD : 2021-07-13

[IFC Markets]

Recommendation for Platinum:Buy​

Buy Stop : Above 1121

Stop Loss : Below 1021

RSI : Neutral

MACD : Buy

MA(200) : Buy

Fractals : Neutral

Parabolic SAR : Buy

Bollinger Bands : Neutral

Chart Analysis​

On the daily timeframe, XPTUSD: D1 went up from the downtrend. Before opening a position, it must exceed the 200-day moving average line. A number of technical analysis indicators have generated signals for further growth. We do not rule out a bullish movement if XPTUSD rises above the last high and 200-day moving average line: 1121. This level can be used as an entry point. The initial risk limitation is possible below the Parabolic signal, the lower Bollinger line and the last 3 lower fractals: 1021. After opening a pending order, move the stop following the Bollinger and Parabolic signals to the next fractal low. Thus, we change the potential profit / loss ratio in our favor. The most cautious traders, after making a deal, can go to the four-hour chart and set a stop-loss, moving it in the direction of movement. If the price overcomes the stop level (1021) without activating the order (1121), it is recommended to delete the order: there are internal changes in the market that were not taken into account.

Fundamental Analysis​

Demand for precious metals may increase amid falling yields on government bonds in developed countries. Will XPTUSD quotes grow? U.S. yield 10-Year Bond (+ 1.36% per annum) is at a 5-month low, and the yield on Germany 10-Year Bond (-0.3% per annum) is at a 3-month low. An additional positive for the quotes of precious metals may be the continuation of the coronavirus epidemic and increased economic risks. According to the World Health Organization (WHO), the number of patients with Covid-19 in the world has increased for the 4th week in a row. Australia has introduced quarantine in Sydney due to the spread of a new strain of the Delta coronavirus. According to the WHO, this strain has been recorded in 103 more countries of the world and may become the most dangerous. The demand for platinum is likely to increase against the background of the implementation of programs for the development of "Hydrogen Energy" in Western countries. This metal can be used in chemical catalysts, hydrogen generators and electrolyzers.