COPPER - 15 min. - Technical analysis published on 02/08/2024 (GMT)
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- Timeframe : 15 min.
- - Analysis generated on
- Status : INVALID
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Summary of the analysis
Trends
Short term:
Strongly bullish
Underlying:
Bullish
Technical indicators
72%
11%
17%
My opinion
Bullish above 3.7540 USD
My targets
3.7765 USD (+0.45%)
3.8175 USD (+1.54%)
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 3.7540 USD. The buyers' bullish objective is set at 3.7765 USD. A bullish break in this resistance would boost the bullish momentum. The buyers could then target the resistance located at 3.8175 USD. If there is any crossing, the next objective would be the resistance located at 3.8400 USD.
Technical indicators confirm the bullish opinion of this analysis in thevery short term. However, be careful of excessive bullish movements. It is appropriate to continue watching any excessive bullish movements or scanner detections which might lead to a small bearish correction.
Force
0
10
5.5
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This analysis was given by Muhahaha. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
The COPPER rating is 3.7595 USD. The price has increased by +0.64% since the last closing and was traded between 3.7325 USD and 3.7625 USD over the period. The price is currently at +0.72% from its lowest and -0.08% from its highest.3.7325
3.7625
3.7595
Here is a more detailed summary of the historical variations registered by COPPER:
Near a new LOW record (1 year)
Type : Bearish
Timeframe : Weekly
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 bullish trend. 67.86% of the signals given by moving averages are bullish. This bullish trend is supported by the strong bullish signals given by short-term moving averages. There is no crossing of moving average by the price or crossing of moving averages between themselves.
In fact, 13 technical indicators on 18 studied are currently bullish. Central Indicators, the detector scanner for these technical indicators recently detected a signal:
Pivot points : price is under support 1
Type : Neutral
Timeframe : Weekly
Central Patterns, the scanner specializing in chart patterns, did not identify any signals.
For a small setback in the very short term, the Central Candlesticks scanner currently notes the presence of this bearish pattern in Japanese candlesticks:
Black evening star
Type : Bearish
Timeframe : 15 minutes
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 3.6550 | 3.6910 | 3.7335 | 3.7595 | 3.7633 | 3.7956 | 3.8317 |
| Change (%) | -2.78% | -1.82% | -0.69% | - | +0.10% | +0.96% | +1.92% |
| Change | -0.1045 | -0.0685 | -0.0260 | - | +0.0038 | +0.0361 | +0.0722 |
| Level | Major | Minor | Major | - | Minor | Intermediate | 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 | 3.6495 | 3.6905 | 3.7130 | 3.7540 | 3.7765 | 3.8175 | 3.8400 |
| Camarilla | 3.7180 | 3.7239 | 3.7297 | 3.7355 | 3.7413 | 3.7471 | 3.7530 |
| Woodie | 3.6403 | 3.6859 | 3.7038 | 3.7494 | 3.7673 | 3.8129 | 3.8308 |
| Fibonacci | 3.6905 | 3.7148 | 3.7297 | 3.7540 | 3.7783 | 3.7932 | 3.8175 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 3.6458 | 3.7312 | 3.7763 | 3.8617 | 3.9068 | 3.9922 | 4.0373 |
| Camarilla | 3.7856 | 3.7976 | 3.8095 | 3.8215 | 3.8335 | 3.8454 | 3.8574 |
| Woodie | 3.6258 | 3.7211 | 3.7563 | 3.8516 | 3.8868 | 3.9821 | 4.0173 |
| Fibonacci | 3.7312 | 3.7810 | 3.8118 | 3.8617 | 3.9115 | 3.9423 | 3.9922 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 3.4972 | 3.6058 | 3.7297 | 3.8383 | 3.9622 | 4.0708 | 4.1947 |
| Camarilla | 3.7896 | 3.8109 | 3.8322 | 3.8535 | 3.8748 | 3.8961 | 3.9174 |
| Woodie | 3.5048 | 3.6096 | 3.7373 | 3.8421 | 3.9698 | 4.0746 | 4.2023 |
| Fibonacci | 3.6058 | 3.6947 | 3.7495 | 3.8383 | 3.9272 | 3.9820 | 4.0708 |
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): | 67.59 | |
| MACD (12,26,9): | 0.0029 | |
| Directional Movement: | 20.9163 | |
| AROON (14): | 35.7143 | |
| DEMA (21): | 3.7565 | |
| Parabolic SAR (0,02-0,02-0,2): | 3.7502 | |
| Elder Ray (13): | 0.0054 | |
| Super Trend (3,10): | 3.7493 | |
| Zig ZAG (10): | 3.7605 | |
| VORTEX (21): | 1.0917 | |
| Stochastique (14,3,5): | 71.12 | |
| TEMA (21): | 3.7586 | |
| Williams %R (14): | -25.00 | |
| Chande Momentum Oscillator (20): | 0.0040 | |
| Repulse (5,40,3): | -0.0110 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | 0.0107 | |
| Courbe Coppock: | 0.18 |
| MA7: | 3.8043 | |
| MA20: | 3.8066 | |
| MA50: | 3.8305 | |
| MA100: | 3.7695 | |
| MAexp7: | 3.7556 | |
| MAexp20: | 3.7528 | |
| MAexp50: | 3.7510 | |
| MAexp100: | 3.7558 | |
| Price / MA7: | -1.18% | |
| Price / MA20: | -1.24% | |
| Price / MA50: | -1.85% | |
| Price / MA100: | -0.27% | |
| Price / MAexp7: | +0.10% | |
| Price / MAexp20: | +0.18% | |
| Price / MAexp50: | +0.23% | |
| Price / MAexp100: | +0.10% |
Quotes :
-
10 min delayed data
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COMEX Futures
News
The latest news and videos published on COPPER at the time of the analysis were as follows:
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Trade idea: Looking long on copper
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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
This member declared not having a position on this financial instrument or a related financial instrument.
About author
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