COPPER - 15 min. - Technical analysis published on 07/07/2022 (GMT)
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- Timeframe : 15 min.
- - Analysis generated on
- Status : LEVEL MAINTAINED
Analysis too old. There are no more charts available.
Summary of the analysis
Trends
Short term:
Strongly bullish
Underlying:
Strongly bullish
Technical indicators
39%
28%
33%
My opinion
Bullish above 3.4883 USD
My targets
3.6692 USD (+2.56%)
3.6738 USD (+2.69%)
My analysis
COPPER is part of a very strong bullish trend. Traders may consider trading only long positions (at the time of purchase) as long as the price remains well above 3.4883 USD. The next resistance located at 3.6692 USD is the next bullish objective to be reached. A bullish break in this resistance would boost the bullish momentum. The bullish movement could then continue towards the next resistance located at 3.6738 USD. After this resistance, buyers could then target 3.7428 USD. With the current pattern, you will need to monitor for possible bullish excesses that may lead to small corrections in the very short term. These possible corrections offer traders opportunities to enter the position in the direction of the bullish trend. Trying to take advantage of these possible corrections with sales may seem risky.
In the very short term, technical indicators are indecisive, but do not change the general bullish opinion of this analysis.
Force
0
10
6.4
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This analysis was given by Simon1. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
The COPPER rating is 3.5775 USD. On the day, this instrument gained +4.97% and was between 3.3965 USD and 3.5800 USD. This implies that the price is at +5.33% from its lowest and at -0.07% from its highest.3.3965
3.5800
3.5775
The Central Gaps scanner detects a bullish opening marking the presence of buyers ahead of sellers at the opening but not sufficiently marked to allow the price to register a quotation gap.
Bullish opening
Type : Bullish
Timeframe : Openning
Here is a more detailed summary of the historical variations registered by COPPER:
Near a new LOW record (1 year)
Type : Bearish
Timeframe : Weekly
Near a new LOW record (1st january)
Type : Bearish
Timeframe : Weekly
Near a new LOW record (1 month)
Type : Bearish
Timeframe : Weekly
Technical
Technical analysis of COPPER in 15 min. shows a strongly overall bullish trend. 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. There is no crossing of moving average by the price or crossing of moving averages between themselves.
An assessment of technical indicators does not currently provide any relevant information to suggest whether the signal given by the technical indicators is more bullish or bearish.
Other results related to technical indicators were also found by the Central Indicators scanner:
Pivot points : price is over resistance 1
Type : Neutral
Timeframe : 15 minutes
Parabolic SAR indicator bearish reversal
Type : Bearish
Timeframe : 15 minutes
Momentum indicator is back under 0
Type : Bearish
Timeframe : 15 minutes
Williams %R indicator is back under -50
Type : Bearish
Timeframe : 15 minutes
Central Patterns, the scanner specializing in chart patterns, did not identify any signals.
The Central Candlesticks scanner, specialised in Japanese candlesticks, did not identify any signals.
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 3.4000 | 3.4594 | 3.5436 | 3.5775 | 3.6147 | 3.7428 | 3.8500 |
| Change (%) | -4.96% | -3.30% | -0.95% | - | +1.04% | +4.62% | +7.62% |
| Change | -0.1775 | -0.1181 | -0.0339 | - | +0.0372 | +0.1653 | +0.2725 |
| Level | Minor | Minor | Major | - | Minor | Intermediate | Minor |
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 | 3.1143 | 3.1937 | 3.3008 | 3.3802 | 3.4873 | 3.5667 | 3.6738 |
| Camarilla | 3.3567 | 3.3738 | 3.3909 | 3.4080 | 3.4251 | 3.4422 | 3.4593 |
| Woodie | 3.1283 | 3.2006 | 3.3148 | 3.3871 | 3.5013 | 3.5736 | 3.6878 |
| Fibonacci | 3.1937 | 3.2649 | 3.3089 | 3.3802 | 3.4514 | 3.4954 | 3.5667 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 3.1918 | 3.3727 | 3.4883 | 3.6692 | 3.7848 | 3.9657 | 4.0813 |
| Camarilla | 3.5225 | 3.5496 | 3.5768 | 3.6040 | 3.6312 | 3.6584 | 3.6855 |
| Woodie | 3.1593 | 3.3564 | 3.4558 | 3.6529 | 3.7523 | 3.9494 | 4.0488 |
| Fibonacci | 3.3727 | 3.4859 | 3.5559 | 3.6692 | 3.7824 | 3.8524 | 3.9657 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 2.2178 | 2.8857 | 3.2448 | 3.9127 | 4.2718 | 4.9397 | 5.2988 |
| Camarilla | 3.3216 | 3.4157 | 3.5099 | 3.6040 | 3.6981 | 3.7923 | 3.8864 |
| Woodie | 2.0635 | 2.8085 | 3.0905 | 3.8355 | 4.1175 | 4.8625 | 5.1445 |
| Fibonacci | 2.8857 | 3.2780 | 3.5204 | 3.9127 | 4.3050 | 4.5474 | 4.9397 |
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): | 57.99 | |
| MACD (12,26,9): | 0.0207 | |
| Directional Movement: | 9.8823 | |
| AROON (14): | 71.4286 | |
| DEMA (21): | 3.5593 | |
| Parabolic SAR (0,02-0,02-0,2): | 3.5770 | |
| Elder Ray (13): | 0.0056 | |
| Super Trend (3,10): | 3.5150 | |
| Zig ZAG (10): | 3.5455 | |
| VORTEX (21): | 1.2024 | |
| Stochastique (14,3,5): | 48.14 | |
| TEMA (21): | 3.5655 | |
| Williams %R (14): | -61.82 | |
| Chande Momentum Oscillator (20): | -0.0015 | |
| Repulse (5,40,3): | -0.0130 | |
| ROCnROLL: | -1 | |
| TRIX (15,9): | 0.0890 | |
| Courbe Coppock: | 2.63 |
| MA7: | 3.5802 | |
| MA20: | 3.8531 | |
| MA50: | 4.1235 | |
| MA100: | 4.3906 | |
| MAexp7: | 3.5492 | |
| MAexp20: | 3.5317 | |
| MAexp50: | 3.4987 | |
| MAexp100: | 3.4738 | |
| Price / MA7: | -0.08% | |
| Price / MA20: | -7.15% | |
| Price / MA50: | -13.24% | |
| Price / MA100: | -18.52% | |
| Price / MAexp7: | +0.80% | |
| Price / MAexp20: | +1.30% | |
| Price / MAexp50: | +2.25% | |
| Price / MAexp100: | +2.99% |
Quotes :
-
10 min delayed data
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COMEX Futures
News
The latest news and videos published on COPPER at the time of the analysis were as follows:
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Is there too much copper around?
-
$100 Billion Copper Supply Deficit | Copper High Demand For The Next 10 Years | COMMODITIES
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War in Ukraine: Conflict causes wheat and copper prices to rise
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Copper, Nickel, Zinc: Metal inventories continue to shrink dramatically and in turn, prices rise
-
No Sustainable Energy Transition Without Copper And Further Price Increases Ahead
This member declared not having a position on this financial instrument or a related financial instrument.
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