COPPER - 1H - Technical analysis published on 08/01/2024 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : INVALID
Analysis too old. There are no more charts available.
Summary of the analysis
Trends
Short term:
Neutral
Underlying:
Bullish
Technical indicators
17%
39%
44%
My opinion
Bullish above 4.1013 USD
My targets
4.2091 USD (+1.50%)
4.2290 USD (+1.98%)
My analysis
Has the basic bullish trend slowed or is it lacking in power? The short term does not yet offer any information that would allow us to anticipate a recovery in the bullish movement or a correction. Sellers' generally have the upper hand, even if a small correction (not tradeable) on the support located at 4.1013 USD remains possible. It is advisable to trade COPPER with the greatest caution, while favouring long positions (at the time of purchase) as long as the price remains well above 4.1013 USD. The next bullish objective for buyers is set at 4.2091 USD. A bullish break in this resistance would boost the bullish momentum. The buyers could then target the resistance located at 4.2290 USD. If there is any crossing, the next objective would be the resistance located at 4.2615 USD. PS: if there is a bearish break in the support located at 4.1013 USD we suggest that you produce a new automated technical analysis. In fact, conditions should have changed. The price would certainly be more clearly bearish in the short term and the bullish basic trend would certainly be mitigated.
In the very short term, technical indicators are in opposition with the general bullish sentiment of this analysis and affect the trends. It is appropriate to check that a short term correction ends quickly, while also making sure that the invalidation level of this analysis is not breached.
Force
0
10
1.4
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Additional analysis
Quotes
The COPPER rating is 4.1470 USD. The price registered a decrease of -0.71% on the session and was between 4.1460 USD and 4.2235 USD. This implies that the price is at +0.02% from its lowest and at -1.81% from its highest.4.1460
4.2235
4.1470
The Central Gaps scanner detects a bullish opening marking the presence of buyers ahead of sellers at the opening but not sufficiently marked to allow the price to register a quotation gap.
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
Technical analysis of this 1H chart of COPPER indicates that the overall trend is bullish. The signals given by moving averages are 71.43% bullish. This bullish trend could slow down given the neutral signals currently being given by short-term moving averages. The Central Indicators scanner detects a bearish signal on moving averages that could impact this trend:
Bearish trend reversal : adaptative moving average 20
Type : Bearish
Timeframe : 1 hour
An assessment of technical indicators shows a slightly bearish signal.
But beware of excesses. The Central Indicators scanner currently detects this:
CCI indicator is oversold : under -100
Type : Neutral
Timeframe : 1 hour
Williams %R indicator is oversold : under -80
Type : Neutral
Timeframe : 1 hour
RSI indicator is back under 50
Type : Bearish
Timeframe : 1 hour
Price is back over the pivot point
Type : Bullish
Timeframe : Weekly
The analysis of the price chart with Central Patterns scanners does not return any result.
No result was found by the Central Candlesticks scanner on Japanese candlesticks.
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 4.0360 | 4.0610 | 4.1013 | 4.1470 | 4.1560 | 4.2091 | 4.2290 |
| Change (%) | -2.68% | -2.07% | -1.10% | - | +0.22% | +1.50% | +1.98% |
| Change | -0.1110 | -0.0860 | -0.0457 | - | +0.0090 | +0.0621 | +0.0820 |
| Level | Minor | Minor | Minor | - | Major | Major | Major |
Attention could also be paid to pivot points to set price objectives:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 3.9825 | 4.0345 | 4.1055 | 4.1575 | 4.2285 | 4.2805 | 4.3515 |
| Camarilla | 4.1427 | 4.1540 | 4.1652 | 4.1765 | 4.1878 | 4.1991 | 4.2103 |
| Woodie | 3.9920 | 4.0393 | 4.1150 | 4.1623 | 4.2380 | 4.2853 | 4.3610 |
| Fibonacci | 4.0345 | 4.0815 | 4.1105 | 4.1575 | 4.2045 | 4.2335 | 4.2805 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 3.7940 | 3.9150 | 4.0195 | 4.1405 | 4.2450 | 4.3660 | 4.4705 |
| Camarilla | 4.0620 | 4.0827 | 4.1033 | 4.1240 | 4.1447 | 4.1653 | 4.1860 |
| Woodie | 3.7858 | 3.9109 | 4.0113 | 4.1364 | 4.2368 | 4.3619 | 4.4623 |
| Fibonacci | 3.9150 | 4.0011 | 4.0544 | 4.1405 | 4.2266 | 4.2799 | 4.3660 |
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 are the details of the technical indicators and moving averages that were collected to generate this technical analysis:
Technical indicators
Moving averages
| RSI (14): | 45.42 | |
| MACD (12,26,9): | 0.0102 | |
| Directional Movement: | 7.5713 | |
| AROON (14): | -42.8571 | |
| DEMA (21): | 4.1913 | |
| Parabolic SAR (0,02-0,02-0,2): | 4.2115 | |
| Elder Ray (13): | -0.0148 | |
| Super Trend (3,10): | 4.1507 | |
| Zig ZAG (10): | 4.1540 | |
| VORTEX (21): | 1.0202 | |
| Stochastique (14,3,5): | 15.63 | |
| TEMA (21): | 4.1842 | |
| Williams %R (14): | -96.53 | |
| Chande Momentum Oscillator (20): | -0.0490 | |
| Repulse (5,40,3): | -0.9419 | |
| ROCnROLL: | -1 | |
| TRIX (15,9): | 0.0625 | |
| Courbe Coppock: | 0.11 |
| MA7: | 4.1225 | |
| MA20: | 4.3337 | |
| MA50: | 4.4609 | |
| MA100: | 4.4469 | |
| MAexp7: | 4.1754 | |
| MAexp20: | 4.1741 | |
| MAexp50: | 4.1485 | |
| MAexp100: | 4.1382 | |
| Price / MA7: | +0.59% | |
| Price / MA20: | -4.31% | |
| Price / MA50: | -7.04% | |
| Price / MA100: | -6.74% | |
| Price / MAexp7: | -0.68% | |
| Price / MAexp20: | -0.65% | |
| Price / MAexp50: | -0.04% | |
| Price / MAexp100: | +0.21% |
Quotes :
-
10 min delayed data
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COMEX Futures
News
The last news published on COPPER at the time of the generation of this analysis was as follows:
-
Watch live: Train carrying copper crashed head on with passenger train in Santiago, Chile
-
Charting the markets: Copper to double? Central bank announcements and UK election effect on FX
-
Why Copper Demand Is Skyrocketing
-
Gold & Copper Hit Record Highs! Is Inflation Coming Back?
-
Sweden's Sámi pay the price in Europe's quest for copper
This member declared not having a position on this financial instrument or a related financial instrument.
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