COPPER - 15 min. - Technical analysis published on 08/09/2023 (GMT)
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- Timeframe : 15 min.
- - Analysis generated on
- Status : LEVEL MAINTAINED
Analysis too old. There are no more charts available.
Summary of the analysis
Trends
Short term:
Strongly bearish
Underlying:
Strongly bearish
Technical indicators
11%
56%
33%
My opinion
Bearish under 3.7920 USD
My targets
3.7570 USD (-0.75%)
3.7285 USD (-1.51%)
My analysis
COPPER is part of a very strong bearish trend. Traders may consider trading only short positions (for sale) as long as the price remains well below 3.7920 USD. The next support located at 3.7570 USD is the next bearish objective to target. A bearish break of this support would revive the bearish momentum. The bearish movement could then continue towards the next support located at 3.7285 USD. Below this support, sellers could then target 3.6935 USD. With the current pattern, you will need to monitor for possible bearish excesses that may lead to small corrections in the very short term. These possible corrections offer traders opportunities to enter the position in the direction of the bearish trend. Trying to profit from the purchase of these possible corrections may seem risky.
In the very short term, the general bearish sentiment is confirmed by technical indicators. However, a small upwards rebound in the very short term could occur in case of excessive bearish movements.
Force
0
10
6.4
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This analysis was given by apextrader23. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
The COPPER rating is 3.7855 USD. The price has increased by +0.05% since the last closing and was between 3.7840 USD and 3.7880 USD. This implies that the price is at +0.04% from its lowest and at -0.07% from its highest.3.7840
3.7880
3.7855
The Central Gaps scanner detects a bullish opening. A small advantage for buyers 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:
Near a new LOW record (1 month)
Type : Bearish
Timeframe : Weekly
Technical
Technical analysis of COPPER in 15 min. shows a overall strongly bearish trend. 82.14% of the signals given by moving averages are bearish. This strongly bearish trend is supported by the strong bearish signals given by short-term moving averages. There is no crossing of moving average by the price or crossing of moving averages between themselves.
An assessment of technical indicators shows a bearish signal.
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 | 3.6985 | 3.7265 | 3.7810 | 3.7855 | 3.8393 | 3.9409 | 3.9805 |
| Change (%) | -2.30% | -1.56% | -0.12% | - | +1.42% | +4.11% | +5.15% |
| Change | -0.0870 | -0.0590 | -0.0045 | - | +0.0538 | +0.1554 | +0.1950 |
| Level | Intermediate | Intermediate | Minor | - | Intermediate | Major | Minor |
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 | 3.6935 | 3.7285 | 3.7570 | 3.7920 | 3.8205 | 3.8555 | 3.8840 |
| Camarilla | 3.7680 | 3.7739 | 3.7797 | 3.7855 | 3.7913 | 3.7971 | 3.8030 |
| Woodie | 3.6903 | 3.7269 | 3.7538 | 3.7904 | 3.8173 | 3.8539 | 3.8808 |
| Fibonacci | 3.7285 | 3.7528 | 3.7677 | 3.7920 | 3.8163 | 3.8312 | 3.8555 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 3.5805 | 3.7005 | 3.7840 | 3.9040 | 3.9875 | 4.1075 | 4.1910 |
| Camarilla | 3.8115 | 3.8302 | 3.8489 | 3.8675 | 3.8862 | 3.9048 | 3.9235 |
| Woodie | 3.5623 | 3.6914 | 3.7658 | 3.8949 | 3.9693 | 4.0984 | 4.1728 |
| Fibonacci | 3.7005 | 3.7782 | 3.8263 | 3.9040 | 3.9817 | 4.0298 | 4.1075 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 3.4445 | 3.5835 | 3.7460 | 3.8850 | 4.0475 | 4.1865 | 4.3490 |
| Camarilla | 3.8256 | 3.8532 | 3.8809 | 3.9085 | 3.9361 | 3.9638 | 3.9914 |
| Woodie | 3.4563 | 3.5894 | 3.7578 | 3.8909 | 4.0593 | 4.1924 | 4.3608 |
| Fibonacci | 3.5835 | 3.6987 | 3.7698 | 3.8850 | 4.0002 | 4.0713 | 4.1865 |
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): | 44.13 | |
| MACD (12,26,9): | -0.0012 | |
| Directional Movement: | -5.9928 | |
| AROON (14): | -50.0000 | |
| DEMA (21): | 3.7855 | |
| Parabolic SAR (0,02-0,02-0,2): | 3.7876 | |
| Elder Ray (13): | -0.0008 | |
| Super Trend (3,10): | 3.7938 | |
| Zig ZAG (10): | 3.7855 | |
| VORTEX (21): | 1.0291 | |
| Stochastique (14,3,5): | 17.65 | |
| TEMA (21): | 3.7855 | |
| Williams %R (14): | -88.24 | |
| Chande Momentum Oscillator (20): | -0.0070 | |
| Repulse (5,40,3): | -0.0638 | |
| ROCnROLL: | 2 | |
| TRIX (15,9): | -0.0041 | |
| Courbe Coppock: | 0.20 |
| MA7: | 3.8261 | |
| MA20: | 3.8623 | |
| MA50: | 3.8330 | |
| MA100: | 3.8741 | |
| MAexp7: | 3.7858 | |
| MAexp20: | 3.7871 | |
| MAexp50: | 3.7891 | |
| MAexp100: | 3.7906 | |
| Price / MA7: | -1.06% | |
| Price / MA20: | -1.99% | |
| Price / MA50: | -1.24% | |
| Price / MA100: | -2.29% | |
| Price / MAexp7: | -0.01% | |
| Price / MAexp20: | -0.04% | |
| Price / MAexp50: | -0.10% | |
| Price / MAexp100: | -0.13% |
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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Trade of the Week: short copper
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Trading the Trend: Short copper
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Inside Sweden’s copper mega-mine | DW News
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Asiamet Resources pushing ahead into the bullish copper play
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Asiamet Resources pushing head into the bullish copper play
This member declared not having a position on this financial instrument or a related financial instrument.
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