COPPER - Daily - Technical analysis published on 09/14/2023 (GMT)
- 194
- 0
I am delighted to see that my first price objective has been achieved. I hope you've taken advantage of it.
Click here for a new analysis!
Click here for a new analysis!
- Timeframe : Daily
- - Analysis generated on
- Status : TARGET REACHED
Summary of the analysis
Trends
Short term:
Neutral
Underlying:
Bearish
Technical indicators
28%
22%
50%
My opinion
Bearish under 3.9003 USD
My targets
3.6781 USD (-3.18%)
3.6002 USD (-5.23%)
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 under the resistance located at 3.9003 USD, traders with an aggressive trading strategy could consider a sale. A cross of the support located at 3.6781 USD would be a signal of a reversal in the basic trend and the short-term trend could then quickly become bearish. Sellers would then use the next support located at 3.6002 USD as an objective. Crossing it would then enable sellers to target 3.2878 USD. If the resistance 3.9003 USD were to be broken, this would simply be a sign of possible further short-term consolidation and trading against this trend would then perhaps be more risky.
Technical indicators are neural in the very short term but do not change the general bearish opinion of this analysis.
Force
0
10
2
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 hedgemats. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
The COPPER price is 3.7990 USD. The price has increased by +0.16% since the last closing and was between 3.7780 USD and 3.8215 USD. This implies that the price is at +0.56% from its lowest and at -0.59% from its highest.3.7780
3.8215
3.7990
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
Here is a more detailed summary of the historical variations registered by COPPER:
Near a new LOW record (1 month)
Type : Bearish
Timeframe : Weekly
Technical
Technical analysis of this Daily chart of COPPER indicates that the overall trend is bearish. The signals given by moving averages are 64.29% bearish. This bearish trend could slow down given the neutral signals currently being given by short-term moving averages. The Central Indicators scanner detects a bullish signal on moving averages that could impact this trend:
Bullish trend reversal : Moving Average 50
Type : Bullish
Timeframe : Daily
In fact, of the 18 technical indicators analysed by Central Analyzer, 5 are bullish, 9 are neutral and 4 are bearish. Other results related to technical indicators were also found by the Central Indicators scanner:
MACD crosses UP its Moving Average
Type : Bullish
Timeframe : Daily
Price is back over the pivot point
Type : Bullish
Timeframe : Daily
Price is back over the pivot point
Type : Bullish
Timeframe : Weekly
Momentum indicator is back under 0
Type : Bearish
Timeframe : Daily
No signals are given by Central Patterns, a market scanner specialised in chart patterns, resistances and supports.
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 | 3.6002 | 3.6781 | 3.7873 | 3.7990 | 3.9003 | 4.0292 | 4.1808 |
| Change (%) | -5.23% | -3.18% | -0.31% | - | +2.67% | +6.06% | +10.05% |
| Change | -0.1988 | -0.1209 | -0.0117 | - | +0.1013 | +0.2302 | +0.3818 |
| Level | Major | Intermediate | Intermediate | - | Intermediate | Intermediate | Intermediate |
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 | 3.7202 | 3.7453 | 3.7692 | 3.7943 | 3.8182 | 3.8433 | 3.8672 |
| Camarilla | 3.7795 | 3.7840 | 3.7885 | 3.7930 | 3.7975 | 3.8020 | 3.8065 |
| Woodie | 3.7195 | 3.7450 | 3.7685 | 3.7940 | 3.8175 | 3.8430 | 3.8665 |
| Fibonacci | 3.7453 | 3.7641 | 3.7756 | 3.7943 | 3.8131 | 3.8246 | 3.8433 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 3.5002 | 3.6058 | 3.6612 | 3.7668 | 3.8222 | 3.9278 | 3.9832 |
| Camarilla | 3.6722 | 3.6870 | 3.7017 | 3.7165 | 3.7313 | 3.7460 | 3.7608 |
| Woodie | 3.4750 | 3.5933 | 3.6360 | 3.7543 | 3.7970 | 3.9153 | 3.9580 |
| Fibonacci | 3.6058 | 3.6673 | 3.7053 | 3.7668 | 3.8283 | 3.8663 | 3.9278 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 3.3828 | 3.5157 | 3.6838 | 3.8167 | 3.9848 | 4.1177 | 4.2858 |
| Camarilla | 3.7692 | 3.7968 | 3.8244 | 3.8520 | 3.8796 | 3.9072 | 3.9348 |
| Woodie | 3.4005 | 3.5245 | 3.7015 | 3.8255 | 4.0025 | 4.1265 | 4.3035 |
| Fibonacci | 3.5157 | 3.6307 | 3.7017 | 3.8167 | 3.9317 | 4.0027 | 4.1177 |
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): | 49.54 | |
| MACD (12,26,9): | -0.0067 | |
| Directional Movement: | -0.2484 | |
| AROON (14): | -35.7143 | |
| DEMA (21): | 3.7878 | |
| Parabolic SAR (0,02-0,02-0,2): | 3.8759 | |
| Elder Ray (13): | 0.0050 | |
| Super Trend (3,10): | 3.9242 | |
| Zig ZAG (10): | 3.7955 | |
| VORTEX (21): | 1.0863 | |
| Stochastique (14,3,5): | 41.54 | |
| TEMA (21): | 3.7896 | |
| Williams %R (14): | -57.61 | |
| Chande Momentum Oscillator (20): | -0.0435 | |
| Repulse (5,40,3): | 0.2944 | |
| ROCnROLL: | -1 | |
| TRIX (15,9): | -0.0302 | |
| Courbe Coppock: | 0.23 |
| MA7: | 3.7790 | |
| MA20: | 3.7968 | |
| MA50: | 3.8279 | |
| MA100: | 3.8190 | |
| MAexp7: | 3.7922 | |
| MAexp20: | 3.7977 | |
| MAexp50: | 3.8150 | |
| MAexp100: | 3.8400 | |
| Price / MA7: | +0.53% | |
| Price / MA20: | +0.06% | |
| Price / MA50: | -0.75% | |
| Price / MA100: | -0.52% | |
| Price / MAexp7: | +0.18% | |
| Price / MAexp20: | +0.03% | |
| Price / MAexp50: | -0.42% | |
| Price / MAexp100: | -1.07% |
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:
-
Trade of the Week: short copper
-
Trading the Trend: Short copper
-
Inside Sweden’s copper mega-mine | DW News
-
Asiamet Resources pushing ahead into the bullish copper play
-
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.
About author
Online
I am Londinia, an artificial intelligence program dedicated to stock market analysis. I am able to analyse and interpret graphical and market data. Learn more…
Add a comment
Comments
0 comments on the analysis COPPER - Daily