COPPER - 1H - Technical analysis published on 11/01/2022 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : TARGET REACHED
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Summary of the analysis
Trends
Short term:
Strongly bullish
Underlying:
Bullish
Technical indicators
94%
0%
6%
My opinion
Bullish above 3.4430 USD
My targets
3.5045 USD (+0.31%)
3.5441 USD (+1.45%)
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 3.4430 USD. The buyers' bullish objective is set at 3.5045 USD. A bullish break in this resistance would boost the bullish momentum. The buyers could then target the resistance located at 3.5441 USD. If there is any crossing, the next objective would be the resistance located at 3.7045 USD.
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
0
10
7.7
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This analysis was given by didi059. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
The COPPER price is 3.4935 USD. The price has increased by +3.51% since the last closing with the lowest point at 3.3780 USD and the highest point at 3.5015 USD. The deviation from the price is +3.42% for the low point and -0.23% for the high point.3.3780
3.5015
3.4935
A bullish opening was detected by the Central Gaps scanner. Buyers are trying to impose a bullish momentum in the very short term.
Bullish opening
Type : Bullish
Timeframe : Openning
Here is a more detailed summary of the historical variations registered by COPPER:
Near a new HIGH record (1 month)
Type : Bullish
Timeframe : Weekly
Technical
A technical analysis in 1H of this COPPER chart shows a bullish trend. 78.57% of the signals given by moving averages are bullish. The overall trend is reinforced by the strong bullish signals from short-term moving averages. An assessment of moving averages reveals a bullish signal that could impact this trend:
Moving Average bullish crossovers : MA20 & MA50
Type : Bullish
Timeframe : 1 hour
An assessment of technical indicators shows a strong bullish signal.
Caution: the Central Indicators scanner currently detects an excess:
RSI indicator is overbought : over 70
Type : Neutral
Timeframe : 1 hour
CCI indicator is overbought : over 100
Type : Neutral
Timeframe : 1 hour
Williams %R indicator is overbought : over -20
Type : Neutral
Timeframe : 1 hour
Pivot points : price is over resistance 2
Type : Neutral
Timeframe : 1 hour
Price is back over the pivot point
Type : Bullish
Timeframe : Weekly
The analysis of the price chart with Central Patterns scanners does not return any result.
The Central Candlesticks scanner which studies Japanese candlesticks did not detect anything.
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 3.3621 | 3.3989 | 3.4430 | 3.4935 | 3.5045 | 3.5441 | 3.7045 |
| Change (%) | -3.76% | -2.71% | -1.45% | - | +0.31% | +1.45% | +6.04% |
| Change | -0.1314 | -0.0946 | -0.0505 | - | +0.0110 | +0.0506 | +0.2110 |
| Level | Major | Major | Intermediate | - | Minor | 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 | 3.2612 | 3.3113 | 3.3432 | 3.3933 | 3.4252 | 3.4753 | 3.5072 |
| Camarilla | 3.3525 | 3.3600 | 3.3675 | 3.3750 | 3.3825 | 3.3900 | 3.3976 |
| Woodie | 3.2520 | 3.3068 | 3.3340 | 3.3888 | 3.4160 | 3.4708 | 3.4980 |
| Fibonacci | 3.3113 | 3.3427 | 3.3620 | 3.3933 | 3.4247 | 3.4440 | 3.4753 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 3.1482 | 3.2553 | 3.3422 | 3.4493 | 3.5362 | 3.6433 | 3.7302 |
| Camarilla | 3.3757 | 3.3934 | 3.4112 | 3.4290 | 3.4468 | 3.4646 | 3.4824 |
| Woodie | 3.1380 | 3.2503 | 3.3320 | 3.4443 | 3.5260 | 3.6383 | 3.7200 |
| Fibonacci | 3.2553 | 3.3294 | 3.3752 | 3.4493 | 3.5234 | 3.5692 | 3.6433 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 2.7567 | 2.9998 | 3.2062 | 3.4493 | 3.6557 | 3.8988 | 4.1052 |
| Camarilla | 3.2889 | 3.3301 | 3.3713 | 3.4125 | 3.4537 | 3.4949 | 3.5361 |
| Woodie | 2.7383 | 2.9906 | 3.1878 | 3.4401 | 3.6373 | 3.8896 | 4.0868 |
| Fibonacci | 2.9998 | 3.1715 | 3.2776 | 3.4493 | 3.6210 | 3.7271 | 3.8988 |
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): | 79.63 | |
| MACD (12,26,9): | 0.0197 | |
| Directional Movement: | 31.6077 | |
| AROON (14): | 100.0000 | |
| DEMA (21): | 3.4568 | |
| Parabolic SAR (0,02-0,02-0,2): | 3.4336 | |
| Elder Ray (13): | 0.0409 | |
| Super Trend (3,10): | 3.4325 | |
| Zig ZAG (10): | 3.4985 | |
| VORTEX (21): | 1.2843 | |
| Stochastique (14,3,5): | 96.13 | |
| TEMA (21): | 3.4815 | |
| Williams %R (14): | -2.02 | |
| Chande Momentum Oscillator (20): | 0.1185 | |
| Repulse (5,40,3): | 1.1865 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | 0.0412 | |
| Courbe Coppock: | 4.87 |
| MA7: | 3.4563 | |
| MA20: | 3.4344 | |
| MA50: | 3.4666 | |
| MA100: | 3.5280 | |
| MAexp7: | 3.4665 | |
| MAexp20: | 3.4367 | |
| MAexp50: | 3.4312 | |
| MAexp100: | 3.4377 | |
| Price / MA7: | +1.08% | |
| Price / MA20: | +1.72% | |
| Price / MA50: | +0.78% | |
| Price / MA100: | -0.98% | |
| Price / MAexp7: | +0.78% | |
| Price / MAexp20: | +1.65% | |
| Price / MAexp50: | +1.82% | |
| Price / MAexp100: | +1.62% |
Quotes :
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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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Weekly Commodities Trading Prep: Copper, China, Agriculture
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Copper Stocks | Hannan Metals - Big area and looks like soon a big discovery | COMMODITIES
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Is copper the new gold?
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Copper And Silver Stocks! Hannan Metals Is Full On Track | COMMODITIES
-
Is there too much copper around?
This member declared not having a position on this financial instrument or a related financial instrument.
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