COPPER - 1H - Technical analysis published on 12/11/2022 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : INVALID
Analysis too old. There are no more charts available.
Summary of the analysis
Trends
Short term:
Neutral
Underlying:
Bullish
Technical indicators
22%
61%
17%
My opinion
Bullish above 3.8333 USD
My targets
3.8942 USD (+0.40%)
3.9245 USD (+1.19%)
My analysis
We are currently in a phase of short-term indecision. In a case like this, you could favour trades in the direction of the basic trend on COPPER. As long as you are above the support located at 3.8333 USD, traders with an aggressive trading strategy could consider a purchase. A cross of the resistance located at 3.8942 USD would be a signal that the basic trade will reverse and the short-term trend could then quickly become bullish. Buyers would then use the next resistance located at 3.9245 USD as an objective. Crossing it would then enable buyers to target 4.1120 USD. If the support 3.8333 USD were to be broken, this would simply be a sign of a possible continuation of short-term consolidation and trading against the trend would then perhaps be more risky.
In the very short term, the general bullish sentiment is not called into question, despite technical indicators being indecisive.
Force
0
10
0.9
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This analysis was given by Ahmadjdid. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
The COPPER rating is 3.8785 USD. The price registered a decrease of -0.13% on the session and was between 3.8460 USD and 3.9245 USD. This implies that the price is at +0.85% from its lowest and at -1.17% from its highest.3.8460
3.9245
3.8785
A bearish opening was detected by the Central Gaps scanner. Sellers are trying to impose a bearish trend in the very short term.
Bearish opening
Type : Bearish
Timeframe : Openning
A study of price movements over other periods shows the following variations:
Near a new HIGH record (1 month)
Type : Bullish
Timeframe : Weekly
Technical
Technical analysis of this 1H chart of COPPER indicates that the overall trend is bullish. The signals given by moving averages are 64.29% bullish. This bullish trend could slow down given the neutral signals currently being given by short-term moving averages. The Central Indicators market scanner is currently detecting a bearish signal that could impact this trend:
Bearish trend reversal : Moving Average 50
Type : Bearish
Timeframe : 1 hour
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:
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
The analysis of the price chart with Central Patterns scanners does not return any result.
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 | 3.7445 | 3.7740 | 3.8333 | 3.8785 | 3.8942 | 3.9245 | 4.1120 |
| Change (%) | -3.45% | -2.69% | -1.17% | - | +0.40% | +1.19% | +6.02% |
| Change | -0.1340 | -0.1045 | -0.0452 | - | +0.0157 | +0.0460 | +0.2335 |
| Level | Minor | Major | Minor | - | Intermediate | Minor | 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 | 3.7630 | 3.8045 | 3.8415 | 3.8830 | 3.9200 | 3.9615 | 3.9985 |
| Camarilla | 3.8569 | 3.8641 | 3.8713 | 3.8785 | 3.8857 | 3.8929 | 3.9001 |
| Woodie | 3.7608 | 3.8034 | 3.8393 | 3.8819 | 3.9178 | 3.9604 | 3.9963 |
| Fibonacci | 3.8045 | 3.8345 | 3.8530 | 3.8830 | 3.9130 | 3.9315 | 3.9615 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 3.3253 | 3.4362 | 3.6433 | 3.7542 | 3.9613 | 4.0722 | 4.2793 |
| Camarilla | 3.7631 | 3.7922 | 3.8214 | 3.8505 | 3.8797 | 3.9088 | 3.9380 |
| Woodie | 3.3735 | 3.4603 | 3.6915 | 3.7783 | 4.0095 | 4.0963 | 4.3275 |
| Fibonacci | 3.4362 | 3.5576 | 3.6327 | 3.7542 | 3.8756 | 3.9507 | 4.0722 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 2.9000 | 3.1435 | 3.4805 | 3.7240 | 4.0610 | 4.3045 | 4.6415 |
| Camarilla | 3.6579 | 3.7111 | 3.7643 | 3.8175 | 3.8707 | 3.9239 | 3.9771 |
| Woodie | 2.9468 | 3.1669 | 3.5273 | 3.7474 | 4.1078 | 4.3279 | 4.6883 |
| Fibonacci | 3.1435 | 3.3653 | 3.5023 | 3.7240 | 3.9458 | 4.0828 | 4.3045 |
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): | 41.34 | |
| MACD (12,26,9): | -0.0062 | |
| Directional Movement: | -15.4599 | |
| AROON (14): | -85.7143 | |
| DEMA (21): | 3.8695 | |
| Parabolic SAR (0,02-0,02-0,2): | 3.8977 | |
| Elder Ray (13): | -0.0174 | |
| Super Trend (3,10): | 3.9047 | |
| Zig ZAG (10): | 3.8565 | |
| VORTEX (21): | 0.9173 | |
| Stochastique (14,3,5): | 11.87 | |
| TEMA (21): | 3.8573 | |
| Williams %R (14): | -84.78 | |
| Chande Momentum Oscillator (20): | -0.0280 | |
| Repulse (5,40,3): | -0.0471 | |
| ROCnROLL: | 2 | |
| TRIX (15,9): | -0.0045 | |
| Courbe Coppock: | 2.11 |
| MA7: | 3.8434 | |
| MA20: | 3.7390 | |
| MA50: | 3.5962 | |
| MA100: | 3.5638 | |
| MAexp7: | 3.8631 | |
| MAexp20: | 3.8746 | |
| MAexp50: | 3.8699 | |
| MAexp100: | 3.8483 | |
| Price / MA7: | +0.91% | |
| Price / MA20: | +3.73% | |
| Price / MA50: | +7.85% | |
| Price / MA100: | +8.83% | |
| Price / MAexp7: | -0.17% | |
| Price / MAexp20: | -0.47% | |
| Price / MAexp50: | -0.35% | |
| Price / MAexp100: | +0.21% |
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:
-
Copper theft attempt causes explosion
-
Taseko Mines on exploration and production of copper
-
Weekly Commodities Trading Prep: Copper, China, Agriculture
-
Copper Stocks | Hannan Metals - Big area and looks like soon a big discovery | COMMODITIES
-
Is copper the new gold?
This member declared not having a position on this financial instrument or a related financial instrument.
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