COPPER - 1H - Technical analysis published on 08/03/2021 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : TARGET REACHED
Analysis too old. There are no more charts available.
Summary of the analysis
Trends
Short term:
Strongly bearish
Underlying:
Strongly bearish
Technical indicators
22%
56%
22%
My opinion
Bearish under 4.4294 USD
My targets
4.3404 USD (-1.28%)
4.2900 USD (-2.42%)
My analysis
The bearish trend is currently very strong for COPPER. As long as the price remains below the resistance at 4.4294 USD, you could try to take advantage of the bearish rally. The first bearish objective is located at 4.3404 USD. The bearish momentum would be revived by a break in this support. Sellers would then use the next support located at 4.2900 USD as an objective. Crossing it would then enable sellers to target 4.2490 USD. Be careful, given the powerful bearish rally underway, excesses could lead to a short-term rebound. If this is the case, remember that trading against the trend may be riskier. It would seem more appropriate to wait for a signal indicating reversal of the trend.
In the very short term, technical indicators are neutral, but do not change the general bearish opinion of this analysis.
Force
0
10
7.1
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This analysis was given by Vincent Launay. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
The COPPER price is 4.3965 USD. The price registered a decrease of -0.82% on the session with the lowest point at 4.3805 USD and the highest point at 4.4425 USD. The deviation from the price is +0.37% for the low point and -1.04% for the high point.4.3805
4.4425
4.3965
So that you have an overall view of the price change, here is a table showing the variations over several periods:
Technical
Technical analysis of COPPER in 1H shows a overall strongly bearish trend. 92.86% of the signals given by moving averages are bearish. This strongly bearish trend is supported by the strong bearish signals given by short-term moving averages. The Central Indicators market scanner currently does not detect any result that concerns moving averages.
An assessment of technical indicators does not currently provide any relevant information on the direction of future price movements.
Caution: the Central Indicators scanner currently detects an excess:
RSI indicator is oversold : under 30
Type : Neutral
Timeframe : 1 hour
CCI indicator is oversold : under -100
Type : Neutral
Timeframe : 1 hour
RSI indicator: bullish divergence
Type : Bullish
Timeframe : 1 hour
Williams %R indicator is oversold : under -80
Type : Neutral
Timeframe : 1 hour
MACD indicator is back under 0
Type : Bearish
Timeframe : 1 hour
No signals are given by Central Patterns, a market scanner specialised in chart patterns, resistances and supports.
The presence of a bullish Japanese candlestick pattern detected by Central Candlesticks that could cause a very short term rebound was also detected:
Bullish harami
Type : Bullish
Timeframe : 1 hour
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 4.2490 | 4.2900 | 4.3404 | 4.3965 | 4.4294 | 4.4712 | 4.5309 |
| Change (%) | -3.35% | -2.42% | -1.28% | - | +0.75% | +1.70% | +3.06% |
| Change | -0.1475 | -0.1065 | -0.0561 | - | +0.0329 | +0.0747 | +0.1344 |
| Level | Minor | Minor | Major | - | Intermediate | Minor | Intermediate |
Pivot points can also be used to set your price objectives. Here is the price situation in relation to pivot points:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 4.2625 | 4.3360 | 4.3845 | 4.4580 | 4.5065 | 4.5800 | 4.6285 |
| Camarilla | 4.3995 | 4.4106 | 4.4218 | 4.4330 | 4.4442 | 4.4554 | 4.4666 |
| Woodie | 4.2500 | 4.3298 | 4.3720 | 4.4518 | 4.4940 | 4.5738 | 4.6160 |
| Fibonacci | 4.3360 | 4.3826 | 4.4114 | 4.4580 | 4.5046 | 4.5334 | 4.5800 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 4.1820 | 4.3005 | 4.3905 | 4.5090 | 4.5990 | 4.7175 | 4.8075 |
| Camarilla | 4.4232 | 4.4423 | 4.4614 | 4.4805 | 4.4996 | 4.5187 | 4.5378 |
| Woodie | 4.1678 | 4.2934 | 4.3763 | 4.5019 | 4.5848 | 4.7104 | 4.7933 |
| Fibonacci | 4.3005 | 4.3802 | 4.4294 | 4.5090 | 4.5887 | 4.6379 | 4.7175 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 3.7612 | 3.9638 | 4.2222 | 4.4248 | 4.6832 | 4.8858 | 5.1442 |
| Camarilla | 4.3537 | 4.3960 | 4.4382 | 4.4805 | 4.5228 | 4.5650 | 4.6073 |
| Woodie | 3.7890 | 3.9778 | 4.2500 | 4.4388 | 4.7110 | 4.8998 | 5.1720 |
| Fibonacci | 3.9638 | 4.1399 | 4.2487 | 4.4248 | 4.6009 | 4.7097 | 4.8858 |
Numerical data
The following is the status of the technical indicators and moving averages at the time of publication of this technical analysis:
Technical indicators
Moving averages
| RSI (14): | 32.76 | |
| MACD (12,26,9): | -0.0222 | |
| Directional Movement: | -18.1055 | |
| AROON (14): | -21.4285 | |
| DEMA (21): | 4.4011 | |
| Parabolic SAR (0,02-0,02-0,2): | 4.4256 | |
| Elder Ray (13): | -0.0227 | |
| Super Trend (3,10): | 4.4476 | |
| Zig ZAG (10): | 4.3995 | |
| VORTEX (21): | 0.7011 | |
| Stochastique (14,3,5): | 13.46 | |
| TEMA (21): | 4.3921 | |
| Williams %R (14): | -70.97 | |
| Chande Momentum Oscillator (20): | -0.0335 | |
| Repulse (5,40,3): | -0.3785 | |
| ROCnROLL: | 2 | |
| TRIX (15,9): | -0.0656 | |
| Courbe Coppock: | 1.61 |
| MA7: | 4.4942 | |
| MA20: | 4.3708 | |
| MA50: | 4.3938 | |
| MA100: | 4.3574 | |
| MAexp7: | 4.4055 | |
| MAexp20: | 4.4291 | |
| MAexp50: | 4.4600 | |
| MAexp100: | 4.4734 | |
| Price / MA7: | -2.17% | |
| Price / MA20: | +0.59% | |
| Price / MA50: | +0.06% | |
| Price / MA100: | +0.90% | |
| Price / MAexp7: | -0.20% | |
| Price / MAexp20: | -0.74% | |
| Price / MAexp50: | -1.42% | |
| Price / MAexp100: | -1.72% |
Quotes :
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10 min delayed data
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COMEX Futures
News
The last news published on COPPER at the time of the generation of this analysis was as follows:
-
Why A Looming Copper Shortage Has Big Consequences For The Green Economy
-
Copper expected to rise to record highs later this year
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Copper: global supply falling behind demand
-
Have we seen a Copper Top - 26th February 2021
-
Adventus Mining – Copper And Gold Development In Ecuador. The Company Is Not Discovered Yet
This member declared not having a position on this financial instrument or a related financial instrument.
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