{"id":13345,"date":"2010-09-27T08:35:39","date_gmt":"2010-09-27T12:35:39","guid":{"rendered":"http:\/\/countingpips.com\/fx\/?p=13345"},"modified":"2010-09-27T08:35:39","modified_gmt":"2010-09-27T12:35:39","slug":"platinum-hits-another-record-high","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/fx\/2010\/09\/27\/platinum-hits-another-record-high\/","title":{"rendered":"Platinum Hits Another Record High"},"content":{"rendered":"<p><strong>By Rita Ruvinski<\/strong> &#8211; Platinum advanced to a new record high, as prospects for a further  decline in the dollar \u200eboosted investor demand for precious metals as  alternative holdings. Platinum prices  jumped \u200e\u200e$10.10 to $1,632 an ounce on Monday reaching its highest level  since May 18th. Technical \u200eindicators show there are good chances  platinum prices will increase further with a potential \u200eprice of  $1675.00 in sight. \u200e<br \/>\nThe chart below is the Platinum 4-hour chart:<\/p>\n<p>\u200e- The technical indicators used are the Bollinger Bands, the MACD ,  the Relative Strength Index \u200e\u200e(RSI) and Fibonacci retracement lines.\u200e<br \/>\nAs we can see in the chart, the price is currently testing the 100%  Fibonacci retracement level \u200eand may possess the momentum to break  past.\u200e<br \/>\n\u200e- The RSI is above 60. It could either mean that the price is in a  lasting uptrend or just \u200eoverbought, in which case a correction could  occur (look for bearish divergence in this case). \u200e<br \/>\n\u200e- The MACD is positive and above its signal line. The configuration is positive. \u200e<br \/>\n&#8211; A tightening of the chart\u2019s Bollinger Bands confirms the bullish volatility in the pair.\u200e<br \/>\n\u200e- The next resistance levels are placed at the 1675.5 and the 1692.5 levels.<br \/>\n\u200e- The next support levels are placed at the 1620.50 and the 1609 levels.\u200e<\/p>\n<p><a href=\"http:\/\/www.forexyard.com\/blog\/en\/wp-content\/uploads\/2010\/09\/tech-27.9.JPG\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone\" src=\"http:\/\/www.forexyard.com\/blog\/en\/wp-content\/uploads\/2010\/09\/tech-27.9.JPG\" alt=\"\" width=\"451\" height=\"784\" \/><\/a><\/p>\n<p><em><strong>Forex <\/strong><strong>Market Analysis provided by <a href=\"http:\/\/www.forexyard.com\/?zone_id=1398\" target=\"_blank\">ForexYard.<\/a><\/strong><\/em><\/p>\n<p>\u00a9 2006 by FxYard Ltd<\/p>\n<p>Disclaimer: Trading Foreign Exchange carries a high level of risk and                                                                            may     not    be          suitable     for     all               investors.            There       is   a                              possibility              that                  you      could               sustain a    loss          of   all      of          your                            investment  and                        therefore   you                   should      not             invest             money     that        you                   cannot           afford to                  lose.   You                 should      be           aware      of             all       the         risks                    associated         with             Foreign             Exchange                   trading.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>By Rita Ruvinski &#8211; Platinum advanced to a new record high, as prospects for a further decline in the dollar \u200eboosted investor demand for precious metals as alternative holdings. Platinum prices jumped \u200e\u200e$10.10 to $1,632 an ounce on Monday reaching its highest level since May 18th. Technical \u200eindicators show there are good chances platinum prices &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.investmacro.com\/fx\/2010\/09\/27\/platinum-hits-another-record-high\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Platinum Hits Another Record High&#8221;<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-13345","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/13345","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/comments?post=13345"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/13345\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/media?parent=13345"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/categories?post=13345"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/tags?post=13345"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}