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COPPER
COPPER
- USD (-)
- 10 min delayed data - COMEX Futures
Open: -
Change: -
Volume: -
Low: -
High: -
High / Low range: -
Type: Commodities
Ticker: CA
ISIN:

COPPER - 1H - Technical analysis published on 03/23/2021 (GMT)

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  • Timeframe : 1H
  • - Analysis generated on
  • Status : TARGET REACHED

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Summary of the analysis

Trends
Court terme: Strongly bearish
De fond: Slightly bearish
Technical indicators
22%
44%
33%
My opinion
Bearish under 4.1101 USD
My targets
4.0635 USD (-0.67%)
4.0405 USD (-1.23%)
My analysis
COPPER is currently trying to strengthen its basic trend with a very bearish short term. As long as the price remains below 4.1101 USD, traders may consider taking advantage of this bearish acceleration and setting themselves to trade only in short positions (for sale). Sellers will encounter the support at 4.0635 USD. A bearish break in this support would confirm a continuation of the bearish acceleration. The next support located at 4.0405 USD would then be the next bearish objective for sellers. Crossing it would then enable sellers to target 4.0102 USD. Beware of a possible return to above the resistance located at 4.1101 USD which would be a sign of a correction of the short-term bearish excesses registered.

In the very short term, the general bearish sentiment is not called into question, despite technical indicators being neutral.
Force
0
10
3.2

Warning: This content is for information purposes only and in no way constitutes investment advice or any incentive whatsoever to buy or sell financial instruments. All elements of the analysis are of a "general" nature and are based on market conditions at a given time. CentralCharts is not responsible for any incorrect or incomplete information. Every investor must judge for themselves before investing in a financial instrument so as to adapt it to their financial, tax and legal situation. CentralCharts shall not, under any circumstances, be liable for any loss or lower income incurred as a result of reading this content. Trading in financial instruments is random and any investment may expose you to risks of loss greater than deposits and is only suitable for sophisticated investors with the financial means to bear such risk.

Vincent Launay
This analysis was given by Vincent Launay. Take part yourself by sharing additional analysis on another time unit:
15 min. Daily Weekly

Additional analysis

Quotes

The COPPER price is 4.0910 USD. On the day, this instrument lost -1.17% with the lowest point at 4.0600 USD and the highest point at 4.1650 USD. The deviation from the price is +0.76% for the low point and -1.78% for the high point.

4.0600
4.1650
4.0910

The Central Gaps scanner detects a bullish opening. A small advantage for buyers in the very short term.

Central Gaps

Bullish opening

Type : Bullish

Timeframe : Openning



Here is a more detailed summary of the historical variations registered by COPPER:
The study of the highest / lowest by the Central Records scanner shows the following results:

Central Records

Near a new HIGH record (5 years)

Type : Bullish

Timeframe : Weekly


Near a new HIGH record (1st january)

Type : Bullish

Timeframe : Weekly


Near a new HIGH record (1 month)

Type : Bullish

Timeframe : Weekly



Technical


Technical analysis of this 1H chart of COPPER indicates that the overall trend is slightly bearish. Only 57.14% of the signals given by moving averages are bearish. This slightly bearish trend is reinforced by the strong signals currently being given by short-term moving averages. There is no crossing of moving average by the price or crossing of moving averages between themselves.

On the 18 technical indicators analysed, 4 are bullish, 6 are neutral and 8 are bearish. Caution: the Central Indicators scanner currently detects an excess:

Central Indicators

CCI indicator: bearish divergence

Type : Bearish

Timeframe : 1 hour


CCI indicator: bullish divergence

Type : Bullish

Timeframe : 1 hour


MACD indicator: bearish divergence

Type : Bearish

Timeframe : 1 hour


MACD indicator: bullish divergence

Type : Bullish

Timeframe : 1 hour


RSI indicator: bearish divergence

Type : Bearish

Timeframe : 1 hour


RSI indicator: bullish divergence

Type : Bullish

Timeframe : 1 hour

Central Indicators, the detector scanner for these technical indicators has recently detected several signals:

Central Indicators

Pivot points : price is over resistance 3

Type : Neutral

Timeframe : 1 hour


Pivot points : price is under support 3

Type : Neutral

Timeframe : 1 hour



The analysis of the price chart with Central Patterns scanners does not return any result.

The presence of a bullish Japanese candlestick pattern detected by Central Candlesticks that could cause a very short term rebound was also detected:

Central Candlesticks

Bullish engulfing lines

Type : Bullish

Timeframe : 1 hour




ProTrendLines
S3
S2
S1
R1
R2
R3
Price


S3S2S1PriceR1R2R3
ProTrendLines 4.0405 4.0635 4.0815 4.0910 4.1101 4.1494 4.1880
Change (%) -1.23% -0.67% -0.23% - +0.47% +1.43% +2.37%
Change -0.0505 -0.0275 -0.0095 - +0.0191 +0.0584 +0.0970
Level Minor Major Intermediate - Minor Intermediate Minor



Attention could also be paid to pivot points to set price objectives:

Daily
Pivot points S3 S2 S1 PP R1 R2 R3
Standard4.02234.04924.09434.12124.16634.19324.2383
Camarilla4.11974.12634.13294.13954.14614.15274.1593
Woodie4.03154.05384.10354.12584.17554.19784.2475
Fibonacci4.04924.07674.09374.12124.14874.16574.1932


Weekly
Pivot points S3 S2 S1 PP R1 R2 R3
Standard3.83953.92504.01904.10454.19854.28404.3780
Camarilla4.06364.08014.09664.11304.12954.14594.1624
Woodie3.84383.92714.02334.10664.20284.28614.3823
Fibonacci3.92503.99364.03594.10454.17314.21544.2840


Monthly
Pivot points S3 S2 S1 PP R1 R2 R3
Standard2.75803.12903.62103.99204.48404.85505.3470
Camarilla3.87573.95484.03394.11304.19214.27124.3503
Woodie2.81853.15933.68154.02234.54454.88535.4075
Fibonacci3.12903.45873.66233.99204.32174.52534.8550

Numerical data


The following is the status of technical indicators and moving averages registered at the time this technical analysis was created:

Technical indicators
Moving averages

RSI (14): 46.81
MACD (12,26,9): -0.0072
Directional Movement: -5.5059
AROON (14): -71.4285
DEMA (21): 4.0977
Parabolic SAR (0,02-0,02-0,2): 4.1346
Elder Ray (13): -0.0063
Super Trend (3,10): 4.1452
Zig ZAG (10): 4.0950
VORTEX (21): 0.9208
Stochastique (14,3,5): 26.19
TEMA (21): 4.0866
Williams %R (14): -70.00
Chande Momentum Oscillator (20): -0.0370
Repulse (5,40,3): 0.0241
ROCnROLL: 2
TRIX (15,9): -0.0102
Courbe Coppock: 2.08
MA7: 4.1129
MA20: 4.1194
MA50: 3.8736
MA100: 3.6444
MAexp7: 4.0941
MAexp20: 4.1046
MAexp50: 4.1066
MAexp100: 4.1041
Price / MA7: -0.53%
Price / MA20: -0.69%
Price / MA50: +5.61%
Price / MA100: +12.25%
Price / MAexp7: -0.08%
Price / MAexp20: -0.33%
Price / MAexp50: -0.38%
Price / MAexp100: -0.32%

Quotes : 2021-03-23 13:56:12 - 10 min delayed data - COMEX Futures

News


The last news published on COPPER at the time of the generation of this analysis was as follows:

This member declared not having a position on this financial instrument or a related financial instrument.

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