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COPPER
COPPER
- USD (-)
- 10 min delayed data - COMEX Futures
Open: -
Change: -
Volume: -
Low: -
High: -
High / Low range: -
Type: Commodities
Ticker: CA
ISIN:

COPPER - 1H - Technical analysis published on 05/22/2024 (GMT)

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  • Timeframe : 1H
  • - Analysis generated on
  • Status : TARGET REACHED

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Summary of the analysis

Trends
Short term: Strongly bearish
Underlying: Strongly bearish
Technical indicators
11%
72%
17%
My opinion
Bearish under 4.9430 USD
My targets
4.8140 USD (-0.61%)
4.6765 USD (-3.45%)
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 4.9430 USD. The next support located at 4.8140 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 4.6765 USD. Below this support, sellers could then target 4.6150 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
7.3

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.

Barts_XV
This analysis was given by Barts_XV. Take part yourself by sharing additional analysis on another time unit:
15 min. Daily Weekly

Additional analysis

Quotes

The COPPER rating is 4.8435 USD. On the day, this instrument lost -5.14% with the lowest point at 4.8380 USD and the highest point at 5.1330 USD. The deviation from the price is +0.11% for the low point and -5.64% for the high point.

4.8380
5.1330
4.8435

A bearish opening was detected by the Central Gaps scanner. Sellers are trying to impose a bearish trend in the very short term.

Central Gaps

Bearish opening

Type : Bearish

Timeframe : Openning



So that you have an overall view of the price change, here is a table showing the variations over several periods:
The study of the highest / lowest by the Central Records scanner shows the following results:

Central Records

New HIGH record (5 years)

Type : Bullish

Timeframe : Weekly


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


A technical analysis in 1H of this COPPER chart shows a sharp bearish trend. 85.71% 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. The Central Indicators scanner detects a bearish signal on moving averages that could impact this trend:

Central Indicators

Moving Average bearish crossovers : AMA50 & AMA100

Type : Bearish

Timeframe : 1 hour



An assessment of technical indicators shows a strong bearish signal.
Caution: the Central Indicators scanner currently detects an excess:

Central Indicators

RSI indicator is oversold : under 20

Type : Neutral

Timeframe : 1 hour


CCI indicator is oversold : under -100

Type : Neutral

Timeframe : 1 hour


Previous candle closed under Bollinger bands

Type : Neutral

Timeframe : 1 hour


Williams %R indicator is oversold : under -80

Type : Neutral

Timeframe : 1 hour

Central Indicators, the scanner specialised in technical indicators, has identified these signals:

Central Indicators

Pivot points : price is under support 3

Type : Neutral

Timeframe : 1 hour


Price is back under the pivot point

Type : Bearish

Timeframe : Weekly



No signals are given by Central Patterns, a market scanner specialised in chart patterns, resistances and supports.

The Central Candlesticks scanner which studies Japanese candlesticks did not detect anything.


ProTrendLines
S3
S2
S1
R1
R2
R3
Price


S3S2S1PriceR1R2R3
ProTrendLines 4.6150 4.6765 4.8140 4.8435 4.9430 5.0662 5.1280
Change (%) -4.72% -3.45% -0.61% - +2.05% +4.60% +5.87%
Change -0.2285 -0.1670 -0.0295 - +0.0995 +0.2227 +0.2845
Level Intermediate Intermediate Intermediate - Major Intermediate Minor



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
Standard4.85224.93235.01925.09935.18625.26635.3532
Camarilla5.06015.07545.09075.10605.12135.13665.1519
Woodie4.85554.93405.02255.10105.18955.26805.3565
Fibonacci4.93234.99615.03555.09935.16315.20255.2663


Weekly
Pivot points S3 S2 S1 PP R1 R2 R3
Standard4.22274.41934.73474.93135.24675.44335.7587
Camarilla4.90924.95615.00315.05005.09695.14395.1908
Woodie4.28204.44904.79404.96105.30605.47305.8180
Fibonacci4.41934.61494.73584.93135.12695.24785.4433


Monthly
Pivot points S3 S2 S1 PP R1 R2 R3
Standard3.52883.79174.16884.43174.80885.07175.4488
Camarilla4.37004.42874.48734.54604.60474.66334.7220
Woodie3.58603.82034.22604.46034.86605.10035.5060
Fibonacci3.79174.03624.18724.43174.67624.82725.0717

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): 23.00
MACD (12,26,9): -0.0529
Directional Movement: -36.4720
AROON (14): -85.7142
DEMA (21): 4.9371
Parabolic SAR (0,02-0,02-0,2): 4.9835
Elder Ray (13): -0.1084
Super Trend (3,10): 4.9727
Zig ZAG (10): 4.8630
VORTEX (21): 0.6460
Stochastique (14,3,5): 5.67
TEMA (21): 4.8904
Williams %R (14): -94.58
Chande Momentum Oscillator (20): -0.2060
Repulse (5,40,3): -1.8224
ROCnROLL: 2
TRIX (15,9): -0.0879
Courbe Coppock: 6.56
MA7: 4.9687
MA20: 4.7253
MA50: 4.4188
MA100: 4.1324
MAexp7: 4.9179
MAexp20: 4.9953
MAexp50: 5.0351
MAexp100: 5.0120
Price / MA7: -2.52%
Price / MA20: +2.50%
Price / MA50: +9.61%
Price / MA100: +17.21%
Price / MAexp7: -1.51%
Price / MAexp20: -3.04%
Price / MAexp50: -3.81%
Price / MAexp100: -3.36%

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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