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 07/23/2024 (GMT)

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Timeframe : Daily
- Analysis generated on
Status : TARGET REACHED

Summary of the analysis

Trends

Short term: Strongly bearish

Underlying: Bearish

Technical indicators

11%

83%

My opinion

Bearish under 4.2290 USD

My targets

3.9862 USD (-3.71%)

3.7652 USD (-9.05%)

My analysis

In the short term, we can see an acceleration in the bearish trend on COPPER, which is a positive signal for sellers. As long as the price remains above 4.2290 USD, a sale could be considered. The first bearish objective is located at 3.9862 USD. The bearish momentum would be revived by a break in this support. Sellers would then use the next support located at 3.7652 USD as an objective. Crossing it would then enable sellers to target 3.6341 USD. If the price were to return above 4.2290 USD, it would probably only trigger a small rebound in the short term to give a better base for restarting. Trading this rebound may be risky.

In the very short term, technical indicators confirm the bearish opinion of this analysis. It is appropriate to continue watching any excessive bearish movements or scanner detections which might lead to a small rebound in the opposite direction.

Force

5.9

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

Additional analysis

Quotes

The COPPER rating is 4.1400 USD. On the day, this instrument lost -1.37% and was between 4.1365 USD and 4.2140 USD. This implies that the price is at +0.08% from its lowest and at -1.76% from its highest.

4.1365

4.2140

4.1400

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

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 result:

New LOW record (1 month)

Type : Bearish

Timeframe : Weekly

Technical

Technical analysis of COPPER in Daily shows an overall bearish trend. 67.86% of the signals given by moving averages are bearish. The overall trend is reinforced by the strong bearish signals from short-term moving averages. The Central Indicators market scanner currently does not detect any result that concerns moving averages.

In fact, 15 technical indicators on 18 studied are currently bearish. But beware of excesses. The Central Indicators scanner currently detects this:

CCI indicator is oversold : under -100

Type : Neutral

Timeframe : Daily

Williams %R indicator is oversold : under -80

Type : Neutral

Timeframe : Daily

Central Indicators, the detector scanner for these technical indicators recently detected a signal:

Pivot points : price is under support 1

Type : Neutral

Timeframe : Daily

Central Patterns, the scanner specializing in chart patterns, did not identify any signals.

The Central Candlesticks scanner, specialised in Japanese candlesticks, did not identify any signals.

ProTrendLines

Price

	S3	S2	S1	Price	R1	R2	R3
ProTrendLines	3.6341	3.7652	3.9862	4.1400	4.2290	4.4060	4.6190
Change (%)	-12.22%	-9.05%	-3.71%	-	+2.15%	+6.43%	+11.57%
Change	-0.5059	-0.3748	-0.1538	-	+0.0890	+0.2660	+0.4790
Level	Major	Intermediate	Intermediate	-	Major	Major	Major

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	4.0530	4.1075	4.1525	4.2070	4.2520	4.3065	4.3515
Camarilla	4.1701	4.1793	4.1884	4.1975	4.2066	4.2157	4.2249
Woodie	4.0483	4.1051	4.1478	4.2046	4.2473	4.3041	4.3468
Fibonacci	4.1075	4.1455	4.1690	4.2070	4.2450	4.2685	4.3065

Weekly

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	3.7343	3.9812	4.1088	4.3557	4.4833	4.7302	4.8578
Camarilla	4.1335	4.1678	4.2022	4.2365	4.2708	4.3052	4.3395
Woodie	3.6748	3.9514	4.0493	4.3259	4.4238	4.7004	4.7983
Fibonacci	3.9812	4.1242	4.2126	4.3557	4.4987	4.5871	4.7302

Monthly

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	3.8990	4.1140	4.2660	4.4810	4.6330	4.8480	5.0000
Camarilla	4.3171	4.3507	4.3844	4.4180	4.4516	4.4853	4.5189
Woodie	3.8675	4.0983	4.2345	4.4653	4.6015	4.8323	4.9685
Fibonacci	4.1140	4.2542	4.3408	4.4810	4.6212	4.7078	4.8480

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):	30.49
MACD (12,26,9):	-0.0796
Directional Movement:	-19.4467
AROON (14):	-85.7143
DEMA (21):	4.3249
Parabolic SAR (0,02-0,02-0,2):	4.5763
Elder Ray (13):	-0.1938
Super Trend (3,10):	4.4828
Zig ZAG (10):	4.1425
VORTEX (21):	0.8710
Stochastique (14,3,5):	3.10
TEMA (21):	4.2694
Williams %R (14):	-99.20
Chande Momentum Oscillator (20):	-0.5110
Repulse (5,40,3):	-5.0297
ROCnROLL:	2
TRIX (15,9):	-0.1258
Courbe Coppock:	6.93

MA7:	4.3197
MA20:	4.4419
MA50:	4.5768
MA100:	4.4336
MAexp7:	4.2924
MAexp20:	4.4143
MAexp50:	4.4725
MAexp100:	4.3979
Price / MA7:	-4.16%
Price / MA20:	-6.80%
Price / MA50:	-9.54%
Price / MA100:	-6.62%
Price / MAexp7:	-3.55%
Price / MAexp20:	-6.21%
Price / MAexp50:	-7.43%
Price / MAexp100:	-5.86%

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:

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

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