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 10/02/2023 (GMT)

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Timeframe : Daily
- Analysis generated on
Status : TARGET REACHED

Summary of the analysis

Trends

Short term: Strongly bearish

Underlying: Strongly bearish

Technical indicators

33%

My opinion

Bearish under 3.9003 USD

My targets

3.6002 USD (-3.42%)

3.4962 USD (-6.21%)

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 3.9003 USD. The next support located at 3.6002 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 3.4962 USD. Below this support, sellers could then target 3.2878 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 not called into question, despite technical indicators being neutral.

Force

6.1

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 Mark Thomer. Take part yourself by sharing additional analysis on another time unit:

Additional analysis

Quotes

COPPER rating 3.7275 USD. On the day, this instrument lost -0.27% and was between 3.7275 USD and 3.7600 USD. This implies that the price is at 0% from its lowest and at -0.86% from its highest.

3.7275

3.7600

3.7275

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

Here is a more detailed summary of the historical variations registered by COPPER:

The study of the highest / lowest by the Central Records scanner shows the following results:

Near a new LOW record (1st january)

Type : Bearish

Timeframe : Weekly

Near a new HIGH record (1 month)

Type : Bullish

Timeframe : Weekly

Technical

A technical analysis in Daily of this COPPER chart shows a sharp bearish trend. The signals given by moving averages are 92.86% bearish. This strong bearish trend is confirmed by the strong signals currently being given by short-term moving averages. The Central Indicators market scanner currently does not detect any result that concerns moving averages.

An assessment of technical indicators does not currently provide any relevant information on the direction of future price movements.
Central Indicators, the detector scanner for these technical indicators recently detected a signal:

Price is back under the pivot point

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

Price

	S3	S2	S1	Price	R1	R2	R3
ProTrendLines	3.2878	3.6002	3.7182	3.7275	3.9003	4.0292	4.1808
Change (%)	-11.80%	-3.42%	-0.25%	-	+4.64%	+8.09%	+12.16%
Change	-0.4397	-0.1273	-0.0093	-	+0.1728	+0.3017	+0.4533
Level	Major	Major	Major	-	Minor	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	3.6295	3.6705	3.7040	3.7450	3.7785	3.8195	3.8530
Camarilla	3.7170	3.7238	3.7307	3.7375	3.7443	3.7512	3.7580
Woodie	3.6258	3.6686	3.7003	3.7431	3.7748	3.8176	3.8493
Fibonacci	3.6705	3.6990	3.7165	3.7450	3.7735	3.7910	3.8195

Weekly

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	3.4837	3.5538	3.6457	3.7158	3.8077	3.8778	3.9697
Camarilla	3.6930	3.7078	3.7227	3.7375	3.7524	3.7672	3.7821
Woodie	3.4945	3.5593	3.6565	3.7213	3.8185	3.8833	3.9805
Fibonacci	3.5538	3.6157	3.6540	3.7158	3.7777	3.8160	3.8778

Monthly

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	3.3683	3.4962	3.6168	3.7447	3.8653	3.9932	4.1138
Camarilla	3.6692	3.6919	3.7147	3.7375	3.7603	3.7831	3.8058
Woodie	3.3648	3.4944	3.6133	3.7429	3.8618	3.9914	4.1103
Fibonacci	3.4962	3.5911	3.6497	3.7447	3.8396	3.8982	3.9932

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):	47.91
MACD (12,26,9):	-0.0275
Directional Movement:	-0.0616
AROON (14):	-57.1428
DEMA (21):	3.7033
Parabolic SAR (0,02-0,02-0,2):	3.6255
Elder Ray (13):	0.0206
Super Trend (3,10):	3.8225
Zig ZAG (10):	3.7325
VORTEX (21):	0.8974
Stochastique (14,3,5):	44.76
TEMA (21):	3.6911
Williams %R (14):	-52.31
Chande Momentum Oscillator (20):	-0.0890
Repulse (5,40,3):	-0.1194
ROCnROLL:	-1
TRIX (15,9):	-0.0968
Courbe Coppock:	4.91

MA7:	3.6896
MA20:	3.7479
MA50:	3.7947
MA100:	3.8000
MAexp7:	3.7108
MAexp20:	3.7384
MAexp50:	3.7777
MAexp100:	3.8144
Price / MA7:	+1.03%
Price / MA20:	-0.54%
Price / MA50:	-1.77%
Price / MA100:	-1.91%
Price / MAexp7:	+0.45%
Price / MAexp20:	-0.29%
Price / MAexp50:	-1.33%
Price / MAexp100:	-2.28%

Quotes : - 10 min delayed data - COMEX Futures

News

The last news published on COPPER at the time of the generation of this analysis was as follows:

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

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