COPPER

- USD (-)

- 10 min delayed data - COMEX Futures

Open:	-
Change:	-
Volume:	-

Low:	-
High:	-
High / Low range:	-

Type:	Commodities
Ticker:	CA
ISIN:

COPPER - Weekly - Technical analysis published on 04/06/2021 (GMT)

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Timeframe : Weekly
- Analysis generated on
Status : TARGET REACHED

Summary of the analysis

Trends

Court terme: Strongly bullish

De fond: Strongly bullish

Technical indicators

67%

33%

My opinion

Bullish above 3.6438 USD

My targets

4.2945 USD (+4.59%)

4.6285 USD (+12.73%)

My analysis

All elements being clearly bullish, it would be possible for traders to trade only long positions (at the time of purchase) on COPPER as long as the price remains well above 3.6438 USD. The buyers” bullish objective is set at 4.2945 USD. A bullish break in this resistance would boost the bullish momentum. The buyers could then target the resistance located at 4.6285 USD. However, beware of bullish excesses that could lead to a possible short-term correction; but this possible correction would not be tradeable.

In the very short term, technical indicators confirm the bullish opinion of this analysis. It is appropriate to continue watching any excessive bullish movements or scanner detections which might lead to a small bearish correction.

Force

8.2

Comment on the analysis

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.

This analysis was given by Simon1. Take part yourself by sharing additional analysis on another time unit:

Additional analysis

Quotes

The COPPER price is 4.1060 USD. Over 5 days, this instrument gained +3.21% and was traded between 4.0240 USD and 4.1600 USD over the period. The price is currently at +2.04% from its lowest point and -1.30% from its highest point.

4.0240

4.1600

4.1060

The Central Gaps scanner detects a bearish opening marking the presence of sellers ahead of buyers at the opening but not sufficiently marked to allow the price to register a quotation gap.

Bearish opening

Type : Bearish

Timeframe : Openning

A study of price movements over other periods shows the following variations:

The Central Records scanner, which identifies the highest / lowest, has detected an element:

Near a new HIGH record (5 years)

Type : Bullish

Timeframe : Weekly

Technical

Technical analysis of this Weekly chart of COPPER indicates that the overall trend is strongly bullish. 92.86% of the signals given by moving averages are bullish. This strongly bullish trend is supported by the strong bullish signals given by short-term moving averages. The Central Indicators market scanner currently does not detect any result that concerns moving averages.

The probability of a further increase are moderate given the direction of the technical indicators.
But beware of excesses. The Central Indicators scanner currently detects this:

RSI indicator is overbought : over 70

Type : Neutral

Timeframe : Weekly

Williams %R indicator is overbought : over -20

Type : Neutral

Timeframe : Weekly

Central Indicators, the scanner specialised in technical indicators, has identified these signals:

Pivot points : price is over resistance 2

Type : Neutral

Timeframe : Weekly

Pivot points : price is under support 1

Type : Neutral

Timeframe : Weekly

Central Patterns, the scanner specializing in chart patterns, did not identify any signals.

No result was found by the Central Candlesticks scanner on Japanese candlesticks.

ProTrendLines

Price

	S3	S2	S1	Price	R1	R2
ProTrendLines	2.9625	3.3030	4.0635	4.1060	4.2945	4.6285
Change (%)	-27.85%	-19.56%	-1.04%	-	+4.59%	+12.73%
Change	-1.1435	-0.8030	-0.0425	-	+0.1885	+0.5225
Level	Major	Major	Major	-	Major	Intermediate

To determine price objectives, it is also possible to use the pivot points. Here is the price position in relation to pivot points:

Daily

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	3.9882	4.0298	4.0687	4.1103	4.1492	4.1908	4.2297
Camarilla	4.0854	4.0927	4.1001	4.1075	4.1149	4.1223	4.1296
Woodie	3.9868	4.0291	4.0673	4.1096	4.1478	4.1901	4.2283
Fibonacci	4.0298	4.0606	4.0796	4.1103	4.1411	4.1601	4.1908

Weekly

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	3.7895	3.8665	3.9285	4.0055	4.0675	4.1445	4.2065
Camarilla	3.9523	3.9650	3.9778	3.9905	4.0032	4.0160	4.0287
Woodie	3.7820	3.8628	3.9210	4.0018	4.0600	4.1408	4.1990
Fibonacci	3.8665	3.9196	3.9524	4.0055	4.0586	4.0914	4.1445

Monthly

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	3.4387	3.6438	3.8172	4.0223	4.1957	4.4008	4.5742
Camarilla	3.8864	3.9211	3.9558	3.9905	4.0252	4.0599	4.0946
Woodie	3.4228	3.6359	3.8013	4.0144	4.1798	4.3929	4.5583
Fibonacci	3.6438	3.7884	3.8778	4.0223	4.1669	4.2563	4.4008

Numerical data

The following are the details of the technical indicators and moving averages that were collected to generate this technical analysis:

Technical indicators

Moving averages

RSI (14):	71.75
MACD (12,26,9):	0.2584
Directional Movement:	19.0659
AROON (14):	28.5715
DEMA (21):	4.1298
Parabolic SAR (0,02-0,02-0,2):	4.3463
Elder Ray (13):	0.1716
Super Trend (3,10):	3.6808
Zig ZAG (10):	4.1055
VORTEX (21):	1.2242
Stochastique (14,3,5):	64.83
TEMA (21):	4.1927
Williams %R (14):	-29.47
Chande Momentum Oscillator (20):	0.5040
Repulse (5,40,3):	1.1282
ROCnROLL:	1
TRIX (15,9):	1.1299
Courbe Coppock:	30.32

MA7:	4.0499
MA20:	4.0771
MA50:	3.9566
MA100:	3.7358
MAexp7:	4.0311
MAexp20:	3.7862
MAexp50:	3.3829
MAexp100:	3.1096
Price / MA7:	+1.39%
Price / MA20:	+0.71%
Price / MA50:	+3.78%
Price / MA100:	+9.91%
Price / MAexp7:	+1.86%
Price / MAexp20:	+8.45%
Price / MAexp50:	+21.38%
Price / MAexp100:	+32.04%

Quotes : 2021-04-06 23:34:34 - 10 min delayed data - COMEX Futures

News

Don"t forget to follow the news on COPPER. At the time of publication of this analysis, the latest news was as follows:

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

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