COPPER - 1H - Technical analysis published on 05/31/2024 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : TARGET REACHED
Analysis too old. There are no more charts available.
Summary of the analysis
Trends
Short term:
Strongly bearish
Underlying:
Strongly bearish
Technical indicators
28%
39%
33%
My opinion
Bearish under 4.7735 USD
My targets
4.6205 USD (-0.42%)
4.4060 USD (-5.04%)
My analysis
All elements being clearly bearish, it would be possible for traders to trade only short positions (for sale) on COPPER as long as the price remains well below 4.7735 USD. The sellers' bearish objective is set at 4.6205 USD. A bearish break of this support would revive the bearish momentum. The sellers could then target the support located at 4.4060 USD. In case of crossing, the next objective would be the support located at 4.1425 USD. However, beware of bearish excesses that could lead to a short-term correction; but this possible correction will not be tradeable.
Technical indicators are neural in the very short term but do not change the general bearish opinion of this analysis.
Force
0
10
6.4
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This analysis was given by fareszeyad. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
The COPPER rating is 4.6400 USD. The price registered a decrease of -0.40% on the session and was between 4.6200 USD and 4.6735 USD. This implies that the price is at +0.43% from its lowest and at -0.72% from its highest.4.6200
4.6735
4.6400
The Central Gaps scanner detects a bullish opening. A small advantage for buyers in the very short term.
Bullish opening
Type : Bullish
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
A technical analysis in 1H 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. An assessment of moving averages reveals a bearish signal that could impact this trend:
Bearish price crossover with Moving Average 20
Type : Bearish
Timeframe : 1 hour
In fact, Central Analyzer took into account 18 technical indicators and the result was as follows: 5 are bullish, 6 are neutral and 7 are bearish. Central Indicators, the detector scanner for these technical indicators recently detected a signal:
Williams %R indicator is back under -50
Type : Bearish
Timeframe : 1 hour
The analysis of the price chart with Central Patterns scanners does not return any result.
The Central Candlesticks scanner which studies Japanese candlesticks did not detect anything.
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 4.1425 | 4.4060 | 4.6205 | 4.6400 | 4.7735 | 4.9430 | 5.0125 |
| Change (%) | -10.72% | -5.04% | -0.42% | - | +2.88% | +6.53% | +8.03% |
| Change | -0.4975 | -0.2340 | -0.0195 | - | +0.1335 | +0.3030 | +0.3725 |
| Level | Minor | Intermediate | Intermediate | - | Major | Major | 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 |
|---|---|---|---|---|---|---|---|
| Standard | 4.4278 | 4.5242 | 4.5913 | 4.6877 | 4.7548 | 4.8512 | 4.9183 |
| Camarilla | 4.6135 | 4.6285 | 4.6435 | 4.6585 | 4.6735 | 4.6885 | 4.7035 |
| Woodie | 4.4133 | 4.5169 | 4.5768 | 4.6804 | 4.7403 | 4.8439 | 4.9038 |
| Fibonacci | 4.5242 | 4.5866 | 4.6252 | 4.6877 | 4.7501 | 4.7887 | 4.8512 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 4.1428 | 4.4432 | 4.5983 | 4.8987 | 5.0538 | 5.3542 | 5.5093 |
| Camarilla | 4.6282 | 4.6700 | 4.7118 | 4.7535 | 4.7953 | 4.8370 | 4.8788 |
| Woodie | 4.0703 | 4.4069 | 4.5258 | 4.8624 | 4.9813 | 5.3179 | 5.4368 |
| Fibonacci | 4.4432 | 4.6172 | 4.7247 | 4.8987 | 5.0727 | 5.1802 | 5.3542 |
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 is the status of technical indicators and moving averages registered at the time this technical analysis was created:
Technical indicators
Moving averages
| RSI (14): | 38.96 | |
| MACD (12,26,9): | -0.0193 | |
| Directional Movement: | -6.8959 | |
| AROON (14): | -14.2857 | |
| DEMA (21): | 4.6336 | |
| Parabolic SAR (0,02-0,02-0,2): | 4.6210 | |
| Elder Ray (13): | 0.0023 | |
| Super Trend (3,10): | 4.6914 | |
| Zig ZAG (10): | 4.6440 | |
| VORTEX (21): | 0.9313 | |
| Stochastique (14,3,5): | 60.12 | |
| TEMA (21): | 4.6407 | |
| Williams %R (14): | -58.88 | |
| Chande Momentum Oscillator (20): | -0.0165 | |
| Repulse (5,40,3): | -0.3593 | |
| ROCnROLL: | 2 | |
| TRIX (15,9): | -0.0759 | |
| Courbe Coppock: | 0.43 |
| MA7: | 4.7601 | |
| MA20: | 4.7941 | |
| MA50: | 4.5124 | |
| MA100: | 4.1970 | |
| MAexp7: | 4.6494 | |
| MAexp20: | 4.6636 | |
| MAexp50: | 4.7086 | |
| MAexp100: | 4.7563 | |
| Price / MA7: | -2.52% | |
| Price / MA20: | -3.21% | |
| Price / MA50: | +2.83% | |
| Price / MA100: | +10.56% | |
| Price / MAexp7: | -0.20% | |
| Price / MAexp20: | -0.51% | |
| Price / MAexp50: | -1.46% | |
| Price / MAexp100: | -2.45% |
Quotes :
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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:
-
Why Copper Demand Is Skyrocketing
-
Gold & Copper Hit Record Highs! Is Inflation Coming Back?
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Sweden's Sámi pay the price in Europe's quest for copper
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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
This member declared not having a position on this financial instrument or a related financial instrument.
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