COPPER - 15 min. - Technical analysis published on 05/20/2024 (GMT)
- 93
- 0
I am pleased to note that the threshold for invalidation has been maintained for 20 Candlesticks.
Click here for a new analysis!
Click here for a new analysis!
- 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 bullish
Underlying:
Strongly bullish
Technical indicators
56%
6%
39%
My opinion
Bullish above 5.0717 USD
My targets
5.2370 USD (+1.48%)
5.3845 USD (+4.34%)
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 5.0717 USD. The buyers' bullish objective is set at 5.2370 USD. A bullish break in this resistance would boost the bullish momentum. The buyers could then target the resistance located at 5.3845 USD. However, beware of bullish excesses that could lead to a possible short-term correction; but this possible correction would not be tradeable.
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
7.7
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 Barts_XV. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
The COPPER price is 5.1605 USD. The price has increased by +2.19% since the last closing and was traded between 5.0700 USD and 5.1990 USD over the period. The price is currently at +1.79% from its lowest and -0.74% from its highest.5.0700
5.1990
5.1605
The Central Gaps scanner detects a bearish opening. A small advantage for sellers in the very short term.
Bearish opening
Type : Bearish
Timeframe : Openning
A study of price movements over other periods shows the following variations:
Near a new HIGH record (1 year)
Type : Bullish
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 this 15 min. chart of COPPER indicates that the overall trend is strongly bullish. The signals given by the moving averages are 92.86% bullish. This strong bullish 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.
In fact, according to the parameters integrated into the Central Analyzer system, 10 technical indicators out of 18 analysed are currently bullish. The Central Indicators scanner found this result concerning these indicators:
MACD crosses DOWN its Moving Average
Type : Bearish
Timeframe : 15 minutes
Central Patterns, the scanner specializing in chart patterns, did not identify any signals.
The Central Candlesticks scanner which studies Japanese candlesticks did not detect anything.
ProTrendLines
S3
S2
S1
R1
Price
| S3 | S2 | S1 | Price | R1 | |
|---|---|---|---|---|---|
| ProTrendLines | 4.9430 | 5.0220 | 5.1280 | 5.1605 | 5.2078 |
| Change (%) | -4.21% | -2.68% | -0.63% | - | +0.92% |
| Change | -0.2175 | -0.1385 | -0.0325 | - | +0.0473 |
| Level | Intermediate | Intermediate | Intermediate | - | Intermediate |
Attention could also be paid to pivot points to set price objectives:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 4.6615 | 4.7550 | 4.9025 | 4.9960 | 5.1435 | 5.2370 | 5.3845 |
| Camarilla | 4.9837 | 5.0058 | 5.0279 | 5.0500 | 5.0721 | 5.0942 | 5.1163 |
| Woodie | 4.6885 | 4.7685 | 4.9295 | 5.0095 | 5.1705 | 5.2505 | 5.4115 |
| Fibonacci | 4.7550 | 4.8471 | 4.9039 | 4.9960 | 5.0881 | 5.1449 | 5.2370 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 4.2227 | 4.4193 | 4.7347 | 4.9313 | 5.2467 | 5.4433 | 5.7587 |
| Camarilla | 4.9092 | 4.9561 | 5.0031 | 5.0500 | 5.0969 | 5.1439 | 5.1908 |
| Woodie | 4.2820 | 4.4490 | 4.7940 | 4.9610 | 5.3060 | 5.4730 | 5.8180 |
| Fibonacci | 4.4193 | 4.6149 | 4.7358 | 4.9313 | 5.1269 | 5.2478 | 5.4433 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 3.5288 | 3.7917 | 4.1688 | 4.4317 | 4.8088 | 5.0717 | 5.4488 |
| Camarilla | 4.3700 | 4.4287 | 4.4873 | 4.5460 | 4.6047 | 4.6633 | 4.7220 |
| Woodie | 3.5860 | 3.8203 | 4.2260 | 4.4603 | 4.8660 | 5.1003 | 5.5060 |
| Fibonacci | 3.7917 | 4.0362 | 4.1872 | 4.4317 | 4.6762 | 4.8272 | 5.0717 |
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): | 62.99 | |
| MACD (12,26,9): | 0.0228 | |
| Directional Movement: | 12.9740 | |
| AROON (14): | 57.1429 | |
| DEMA (21): | 5.1746 | |
| Parabolic SAR (0,02-0,02-0,2): | 5.1403 | |
| Elder Ray (13): | 0.0051 | |
| Super Trend (3,10): | 5.1108 | |
| Zig ZAG (10): | 5.1585 | |
| VORTEX (21): | 1.1437 | |
| Stochastique (14,3,5): | 68.53 | |
| TEMA (21): | 5.1781 | |
| Williams %R (14): | -28.69 | |
| Chande Momentum Oscillator (20): | 0.0740 | |
| Repulse (5,40,3): | -0.1001 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | 0.0746 | |
| Courbe Coppock: | 2.94 |
| MA7: | 4.9058 | |
| MA20: | 4.6768 | |
| MA50: | 4.3789 | |
| MA100: | 4.1241 | |
| MAexp7: | 5.1634 | |
| MAexp20: | 5.1428 | |
| MAexp50: | 5.0962 | |
| MAexp100: | 5.0431 | |
| Price / MA7: | +5.19% | |
| Price / MA20: | +10.34% | |
| Price / MA50: | +17.85% | |
| Price / MA100: | +25.13% | |
| Price / MAexp7: | -0.06% | |
| Price / MAexp20: | +0.34% | |
| Price / MAexp50: | +1.26% | |
| Price / MAexp100: | +2.33% |
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:
-
Sweden's Sámi pay the price in Europe's quest for copper
-
Why Glencore have joined the bidding war to buy Anglo American. #copper #Glencore #trading
-
What does BHP’s deal to buy Anglo American mean for the mining and London markets? #Mining #Copper
-
‘Copper likely to stay above $9,000‘ – Meyer
-
Inflation sends cocoa prices through the roof, more expensive than copper
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 - 15 min.