COPPER

- USD (-)

- 10 min delayed data - COMEX Futures

Open:	-
Change:	-
Volume:	-

Low:	-
High:	-
High / Low range:	-

Type:	Commodities
Ticker:	CA
ISIN:

COPPER - Daily - Technical analysis published on 12/18/2022 (GMT)

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Timeframe : Daily
- Analysis generated on
Status : TARGET REACHED

Summary of the analysis

Trends

Short term: Strongly bullish

Underlying: Strongly bullish

Technical indicators

17%

44%

39%

My opinion

Bullish above 3.7120 USD

My targets

4.0610 USD (+7.52%)

4.1004 USD (+8.56%)

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 3.7120 USD. The buyers' bullish objective is set at 4.0610 USD. A bullish break in this resistance would boost the bullish momentum. The buyers could then target the resistance located at 4.1004 USD. If there is any crossing, the next objective would be the resistance located at 4.3334 USD. However, beware of bullish excesses that could lead to a possible short-term correction; but this possible correction would not be tradeable.

Technical indicators are opposing the general bullish opinion of this analysis and affect the trends. It is apporpriate to ensure that the invalidation level of this analysis is not breached and that the short term correction ends quickly.

Force

5.2

Comment on the analysis

Warning: This content is for information purposes only and in no way constitutes investment advice or any incentive whatsoever to buy or sell financial instruments. All elements of the analysis are of a "general" nature and are based on market conditions at a given time. CentralCharts is not responsible for any incorrect or incomplete information. Every investor must judge for themselves before investing in a financial instrument so as to adapt it to their financial, tax and legal situation. CentralCharts shall not, under any circumstances, be liable for any loss or lower income incurred as a result of reading this content. Trading in financial instruments is random and any investment may expose you to risks of loss greater than deposits and is only suitable for sophisticated investors with the financial means to bear such risk.

This analysis was given by Ahmadjdid. Take part yourself by sharing additional analysis on another time unit:

Additional analysis

Quotes

The COPPER price is 3.7770 USD. The price registered an increase of +0.41% on the session with the lowest point at 3.7690 USD and the highest point at 3.7790 USD. The deviation from the price is +0.21% for the low point and -0.05% for the high point.

3.7690

3.7790

3.7770

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

So that you have an overall view of the price change, here is a table showing the variations over several periods:

The Central Records scanner, which identifies the highest / lowest, has detected an element:

Near a new HIGH record (1 month)

Type : Bullish

Timeframe : Weekly

Technical

Technical analysis of this Daily chart of COPPER indicates that the overall trend is strongly bullish. 92.86% of the signals given by moving averages are bullish. The overall trend is supported by the strong bullish signals from short-term moving averages. The Central Indicators market scanner currently does not detect any result that concerns moving averages.

In fact, only 8 technical indicators out of 18 studied are currently positioned bearish. The Central Indicators scanner found this result concerning these indicators:

Momentum indicator is back under 0

Type : Bearish

Timeframe : Daily

The analysis of the price chart with Central Patterns scanners does not return any result.

For a small rebound in the very short term, the Central Candlesticks scanner currently notes the presence of these bullish patterns in Japanese candlesticks:

Bullish harami

Type : Bullish

Timeframe : Daily

Bullish harami cross

Type : Bullish

Timeframe : Daily

ProTrendLines

Price

	S3	S2	S1	Price	R1	R2	R3
ProTrendLines	3.2884	3.5516	3.7120	3.7770	4.1004	4.3334	4.6330
Change (%)	-12.94%	-5.97%	-1.72%	-	+8.56%	+14.73%	+22.66%
Change	-0.4886	-0.2254	-0.0650	-	+0.3234	+0.5564	+0.8560
Level	Major	Major	Intermediate	-	Intermediate	Major	Major

Attention could also be paid to pivot points to set price objectives:

Daily

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	3.6560	3.6945	3.7280	3.7665	3.8000	3.8385	3.8720
Camarilla	3.7417	3.7483	3.7549	3.7615	3.7681	3.7747	3.7813
Woodie	3.6535	3.6933	3.7255	3.7653	3.7975	3.8373	3.8695
Fibonacci	3.6945	3.7220	3.7390	3.7665	3.7940	3.8110	3.8385

Weekly

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	3.4907	3.6118	3.6867	3.8078	3.8827	4.0038	4.0787
Camarilla	3.7076	3.7256	3.7435	3.7615	3.7795	3.7974	3.8154
Woodie	3.4675	3.6003	3.6635	3.7963	3.8595	3.9923	4.0555
Fibonacci	3.6118	3.6867	3.7330	3.8078	3.8827	3.9290	4.0038

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 is the status of technical indicators and moving averages registered at the time this technical analysis was created:

Technical indicators

Moving averages

RSI (14):	52.72
MACD (12,26,9):	0.0454
Directional Movement:	5.7320
AROON (14):	71.4286
DEMA (21):	3.8378
Parabolic SAR (0,02-0,02-0,2):	3.9251
Elder Ray (13):	-0.0190
Super Trend (3,10):	3.5892
Zig ZAG (10):	3.7780
VORTEX (21):	1.0403
Stochastique (14,3,5):	51.65
TEMA (21):	3.8329
Williams %R (14):	-51.19
Chande Momentum Oscillator (20):	-0.0400
Repulse (5,40,3):	-1.4290
ROCnROLL:	-1
TRIX (15,9):	0.2300
Courbe Coppock:	7.62

MA7:	3.8136
MA20:	3.7619
MA50:	3.6385
MA100:	3.5840
MAexp7:	3.7977
MAexp20:	3.7710
MAexp50:	3.6863
MAexp100:	3.6846
Price / MA7:	-0.96%
Price / MA20:	+0.40%
Price / MA50:	+3.81%
Price / MA100:	+5.39%
Price / MAexp7:	-0.55%
Price / MAexp20:	+0.16%
Price / MAexp50:	+2.46%
Price / MAexp100:	+2.51%

Quotes : - 10 min delayed data - COMEX Futures

News

The latest news and videos published on COPPER at the time of the analysis were as follows:

This member declared not having a position on this financial instrument or a related financial instrument.

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