COPPER - 1H - Technical analysis published on 11/02/2022 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : INVALID
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Summary of the analysis
Trends
Short term:
Neutral
Underlying:
Bullish
Technical indicators
22%
33%
44%
My opinion
Bullish above 3.4635 USD
My targets
3.5045 USD (+0.81%)
3.5441 USD (+1.94%)
My analysis
Has the basic bullish trend slowed or is it lacking in power? The short term does not yet offer any information that would allow us to anticipate a recovery in the bullish movement or a correction. Sellers' generally have the upper hand, even if a small correction (not tradeable) on the support located at 3.4635 USD remains possible. It is advisable to trade COPPER with the greatest caution, while favouring long positions (at the time of purchase) as long as the price remains well above 3.4635 USD. The next bullish objective for buyers 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. PS: if there is a bearish break in the support located at 3.4635 USD we suggest that you produce a new automated technical analysis. In fact, conditions should have changed. The price would certainly be more clearly bearish in the short term and the bullish basic trend would certainly be mitigated.
In the very short term, the general bullish sentiment is not called into question, despite technical indicators being indecisive.
Force
0
10
2.1
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Additional analysis
Quotes
The COPPER rating is 3.4765 USD. The price has increased by +0.12% since the last closing with the lowest point at 3.4635 USD and the highest point at 3.5085 USD. The deviation from the price is +0.38% for the low point and -0.91% for the high point.3.4635
3.5085
3.4765
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
So that you have an overall view of the price change, here is a table showing the variations over several periods:
Near a new LOW record (1 month)
Type : Bearish
Timeframe : Weekly
Technical
A technical analysis in 1H of this COPPER chart shows a bullish trend. 64.29% of the signals given by moving averages are bullish. Caution: the neutral signals currently given by the short-term moving averages indicate that this bullish trend is showing signs of running out of steam. The Central Indicators scanner detects a bullish signal on moving averages that could impact this trend:
Bullish trend reversal : Moving Average 20
Type : Bullish
Timeframe : 1 hour
In fact, of the 18 technical indicators analysed by Central Analyzer, 4 are bullish, 8 are neutral and 6 are bearish. The Central Indicators scanner found this result concerning these indicators:
Price is back over the pivot point
Type : Bullish
Timeframe : Weekly
No signals are given by Central Patterns, a market scanner specialised in chart patterns, resistances and supports.
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 | 3.3996 | 3.4427 | 3.4635 | 3.4765 | 3.5045 | 3.5441 | 3.7045 |
| Change (%) | -2.21% | -0.97% | -0.37% | - | +0.81% | +1.94% | +6.56% |
| Change | -0.0769 | -0.0338 | -0.0130 | - | +0.0280 | +0.0676 | +0.2280 |
| Level | Intermediate | Minor | Minor | - | Intermediate | 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 | 3.2763 | 3.3272 | 3.3998 | 3.4507 | 3.5233 | 3.5742 | 3.6468 |
| Camarilla | 3.4385 | 3.4499 | 3.4612 | 3.4725 | 3.4838 | 3.4951 | 3.5065 |
| Woodie | 3.2873 | 3.3326 | 3.4108 | 3.4561 | 3.5343 | 3.5796 | 3.6578 |
| Fibonacci | 3.3272 | 3.3743 | 3.4035 | 3.4507 | 3.4978 | 3.5270 | 3.5742 |
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 | 3.0293 | 3.1662 | 3.3193 | 3.4562 | 3.6093 | 3.7462 | 3.8993 |
| Camarilla | 3.3928 | 3.4193 | 3.4459 | 3.4725 | 3.4991 | 3.5257 | 3.5523 |
| Woodie | 3.0375 | 3.1703 | 3.3275 | 3.4603 | 3.6175 | 3.7503 | 3.9075 |
| Fibonacci | 3.1662 | 3.2770 | 3.3454 | 3.4562 | 3.5670 | 3.6354 | 3.7462 |
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): | 52.64 | |
| MACD (12,26,9): | 0.0092 | |
| Directional Movement: | 3.3580 | |
| AROON (14): | 35.7143 | |
| DEMA (21): | 3.4929 | |
| Parabolic SAR (0,02-0,02-0,2): | 3.4601 | |
| Elder Ray (13): | -0.0050 | |
| Super Trend (3,10): | 3.4557 | |
| Zig ZAG (10): | 3.4790 | |
| VORTEX (21): | 1.1063 | |
| Stochastique (14,3,5): | 28.15 | |
| TEMA (21): | 3.4903 | |
| Williams %R (14): | -64.44 | |
| Chande Momentum Oscillator (20): | 0.0055 | |
| Repulse (5,40,3): | -0.1532 | |
| ROCnROLL: | -1 | |
| TRIX (15,9): | 0.0568 | |
| Courbe Coppock: | 0.75 |
| MA7: | 3.4599 | |
| MA20: | 3.4321 | |
| MA50: | 3.4628 | |
| MA100: | 3.5209 | |
| MAexp7: | 3.4832 | |
| MAexp20: | 3.4783 | |
| MAexp50: | 3.4613 | |
| MAexp100: | 3.4526 | |
| Price / MA7: | +0.48% | |
| Price / MA20: | +1.29% | |
| Price / MA50: | +0.40% | |
| Price / MA100: | -1.26% | |
| Price / MAexp7: | -0.19% | |
| Price / MAexp20: | -0.05% | |
| Price / MAexp50: | +0.44% | |
| Price / MAexp100: | +0.69% |
Quotes :
-
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:
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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
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Is there too much copper around?
This member declared not having a position on this financial instrument or a related financial instrument.
About author
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