COPPER - 15 min. - Technical analysis published on 02/01/2023 (GMT)
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- Timeframe : 15 min.
- - Analysis generated on
- Status : TARGET REACHED
Analysis too old. There are no more charts available.
Summary of the analysis
Trends
Short term:
Strongly bearish
Underlying:
Bearish
Technical indicators
28%
56%
17%
My opinion
Bearish under 4.1920 USD
My targets
4.1525 USD (-0.54%)
4.0790 USD (-2.30%)
My analysis
In the short term, we can see an acceleration in the bearish trend on COPPER, which is a positive signal for sellers. As long as the price remains above 4.1920 USD, a sale could be considered. The first bearish objective is located at 4.1525 USD. The bearish momentum would be revived by a break in this support. Sellers would then use the next support located at 4.0790 USD as an objective. Crossing it would then enable sellers to target 4.0395 USD. If the price were to return above 4.1920 USD, it would probably only trigger a small rebound in the short term to give a better base for restarting. Trading this rebound may be risky.
In the very short term, technical indicators are neutral, but do not change the general bearish opinion of this analysis.
Force
0
10
5.5
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Additional analysis
Quotes
COPPER rating 4.1750 USD. The price is lower by -1.21% since the last closing with the lowest point at 4.1580 USD and the highest point at 4.2250 USD. The deviation from the price is +0.41% for the low point and -1.18% for the high point.4.1580
4.2250
4.1750
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
So that you have an overall view of the price change, here is a table showing the variations over several periods:
Near a new HIGH record (1st january)
Type : Bullish
Timeframe : Weekly
Near a new HIGH record (1 month)
Type : Bullish
Timeframe : Weekly
Technical
Technical analysis of COPPER in 15 min. shows an overall bearish trend. The signals given by moving averages are 78.57% bearish. This bearish trend is reinforced by the strong signals currently being given by short-term moving averages. The Central Indicators scanner does not detect any result on moving averages that would impact this trend.
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:
Williams %R indicator is oversold : under -80
Type : Neutral
Timeframe : 15 minutes
The analysis of the price chart with Central Patterns scanners does not return any result.
No result was found by the Central Candlesticks scanner on Japanese candlesticks.
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 4.1004 | 4.1185 | 4.1722 | 4.1750 | 4.2195 | 4.2490 | 4.2744 |
| Change (%) | -1.79% | -1.35% | -0.07% | - | +1.07% | +1.77% | +2.38% |
| Change | -0.0746 | -0.0565 | -0.0028 | - | +0.0445 | +0.0740 | +0.0994 |
| Level | Major | Minor | Intermediate | - | Intermediate | Minor | Major |
Pivot points can also be used to set your price objectives. Here is the price situation in relation to pivot points:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 4.0395 | 4.0790 | 4.1525 | 4.1920 | 4.2655 | 4.3050 | 4.3785 |
| Camarilla | 4.1949 | 4.2053 | 4.2156 | 4.2260 | 4.2364 | 4.2467 | 4.2571 |
| Woodie | 4.0565 | 4.0875 | 4.1695 | 4.2005 | 4.2825 | 4.3135 | 4.3955 |
| Fibonacci | 4.0790 | 4.1222 | 4.1488 | 4.1920 | 4.2352 | 4.2618 | 4.3050 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 4.0317 | 4.1018 | 4.1622 | 4.2323 | 4.2927 | 4.3628 | 4.4232 |
| Camarilla | 4.1866 | 4.1986 | 4.2105 | 4.2225 | 4.2345 | 4.2464 | 4.2584 |
| Woodie | 4.0268 | 4.0994 | 4.1573 | 4.2299 | 4.2878 | 4.3604 | 4.4183 |
| Fibonacci | 4.1018 | 4.1517 | 4.1825 | 4.2323 | 4.2822 | 4.3130 | 4.3628 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 3.4900 | 3.6065 | 3.7085 | 3.8250 | 3.9270 | 4.0435 | 4.1455 |
| Camarilla | 3.7504 | 3.7704 | 3.7905 | 3.8105 | 3.8305 | 3.8506 | 3.8706 |
| Woodie | 3.4828 | 3.6029 | 3.7013 | 3.8214 | 3.9198 | 4.0399 | 4.1383 |
| Fibonacci | 3.6065 | 3.6900 | 3.7415 | 3.8250 | 3.9085 | 3.9600 | 4.0435 |
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): | 29.43 | |
| MACD (12,26,9): | -0.0114 | |
| Directional Movement: | -26.6820 | |
| AROON (14): | -78.5714 | |
| DEMA (21): | 4.1686 | |
| Parabolic SAR (0,02-0,02-0,2): | 4.1730 | |
| Elder Ray (13): | -0.0102 | |
| Super Trend (3,10): | 4.1898 | |
| Zig ZAG (10): | 4.1675 | |
| VORTEX (21): | 0.7478 | |
| Stochastique (14,3,5): | 12.45 | |
| TEMA (21): | 4.1616 | |
| Williams %R (14): | -81.82 | |
| Chande Momentum Oscillator (20): | -0.0330 | |
| Repulse (5,40,3): | -0.0256 | |
| ROCnROLL: | 2 | |
| TRIX (15,9): | -0.0316 | |
| Courbe Coppock: | 1.58 |
| MA7: | 4.2263 | |
| MA20: | 4.1667 | |
| MA50: | 3.9318 | |
| MA100: | 3.7223 | |
| MAexp7: | 4.1690 | |
| MAexp20: | 4.1825 | |
| MAexp50: | 4.1935 | |
| MAexp100: | 4.1940 | |
| Price / MA7: | -1.21% | |
| Price / MA20: | +0.20% | |
| Price / MA50: | +6.19% | |
| Price / MA100: | +12.16% | |
| Price / MAexp7: | +0.14% | |
| Price / MAexp20: | -0.18% | |
| Price / MAexp50: | -0.44% | |
| Price / MAexp100: | -0.45% |
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:
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Why copper is one to watch with China economy to reopen
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What is copper telling us about the global outlook?
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IG 2023 Predictions: Copper and Iron Ore ones to watch
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Copper theft attempt causes explosion
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Taseko Mines on exploration and production of copper
This member declared not having a position on this financial instrument or a related financial instrument.
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