COPPER - 15 min. - Technical analysis published on 08/06/2024 (GMT)
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- Timeframe : 15 min.
- - Analysis generated on
- Status : INVALID
Summary of the analysis
Trends
Short term:
Neutral
Underlying:
Bearish
Technical indicators
44%
22%
33%
My opinion
Bearish under 4.0265 USD
My targets
3.9030 USD (-2.18%)
3.8070 USD (-4.59%)
My analysis
Has the basic bearish 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 bearish trend or a rebound. Sellers' generally have the upper hand, even if a small correction (not tradeable) on the resistance located at 4.0265 USD remains possible. It is advisable to trade COPPER with the greatest caution, while favouring short positions (for sale) as long as the price remains well below 4.0265 USD. The next bearish objective for sellers is set at 3.9030 USD. A bearish break of this support would revive the bearish momentum. The sellers could then target the support located at 3.8070 USD. In case of crossing, the next objective would be the support located at 3.6835 USD. PS: if there is a bullish break in the resistance located at 4.0265 USD we suggest that you produce a new automated technical analysis. In fact, conditions should have changed. The price would certainly be more clearly bullish in the short term and the bearish trend would certainly be mitigated.
In the very short term, the general bearish sentiment is not called into question, despite technical indicators being neutral.
Force
0
10
2.1
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Additional analysis
Quotes
The COPPER rating is 3.9900 USD. The price registered a decrease of -0.23% on the session and was between 3.9600 USD and 4.0600 USD. This implies that the price is at +0.76% from its lowest and at -1.72% from its highest.3.9600
4.0600
3.9900
The Central Gaps scanner detects a bullish opening. A small advantage for buyers in the very short term.
Bullish opening
Type : Bullish
Timeframe : Openning
A study of price movements over other periods shows the following variations:
Near a new LOW record (1 month)
Type : Bearish
Timeframe : Weekly
Technical
A technical analysis in 15 min. of this COPPER chart shows a bearish trend. 67.86% of the signals given by moving averages are bearish. Caution: as the signals currently given by short-term moving averages are rather neutral, the bearish trend could slow down. An assessment of moving averages reveals several bearish signals that could impact this trend:
Bearish price crossover with Moving Average 20
Type : Bearish
Timeframe : 15 minutes
Bearish price crossover with adaptative moving average 20
Type : Bearish
Timeframe : 15 minutes
In fact, Central Analyzer took into account 18 technical indicators and the result was as follows: 8 are bullish, 6 are neutral and 4 are bearish. Central Indicators, the detector scanner for these technical indicators has recently detected several signals:
Pivot points : price is under support 1
Type : Neutral
Timeframe : Weekly
RSI indicator is back under 50
Type : Bearish
Timeframe : 15 minutes
Ichimoku - Bullish crossover : Tenkan & Kijun
Type : Bullish
Timeframe : 15 minutes
The analysis of the price chart with Central Patterns scanners does not return any result.
The Central Candlesticks scanner, specialised in Japanese candlesticks, did not identify any signals.
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 3.7652 | 3.9305 | 3.9862 | 3.9900 | 4.0300 | 4.0550 | 4.1013 |
| Change (%) | -5.63% | -1.49% | -0.10% | - | +1.00% | +1.63% | +2.79% |
| Change | -0.2248 | -0.0595 | -0.0038 | - | +0.0400 | +0.0650 | +0.1113 |
| Level | Minor | Intermediate | Major | - | Intermediate | 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 |
|---|---|---|---|---|---|---|---|
| Standard | 3.6835 | 3.8070 | 3.9030 | 4.0265 | 4.1225 | 4.2460 | 4.3420 |
| Camarilla | 3.9386 | 3.9588 | 3.9789 | 3.9990 | 4.0191 | 4.0392 | 4.0594 |
| Woodie | 3.6698 | 3.8001 | 3.8893 | 4.0196 | 4.1088 | 4.2391 | 4.3283 |
| Fibonacci | 3.8070 | 3.8909 | 3.9427 | 4.0265 | 4.1104 | 4.1622 | 4.2460 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 3.8207 | 3.9253 | 4.0142 | 4.1188 | 4.2077 | 4.3123 | 4.4012 |
| Camarilla | 4.0498 | 4.0675 | 4.0853 | 4.1030 | 4.1207 | 4.1385 | 4.1562 |
| Woodie | 3.8128 | 3.9214 | 4.0063 | 4.1149 | 4.1998 | 4.3084 | 4.3933 |
| Fibonacci | 3.9253 | 3.9993 | 4.0449 | 4.1188 | 4.1928 | 4.2384 | 4.3123 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 3.1723 | 3.6012 | 3.8418 | 4.2707 | 4.5113 | 4.9402 | 5.1808 |
| Camarilla | 3.8984 | 3.9598 | 4.0211 | 4.0825 | 4.1439 | 4.2052 | 4.2666 |
| Woodie | 3.0783 | 3.5541 | 3.7478 | 4.2236 | 4.4173 | 4.8931 | 5.0868 |
| Fibonacci | 3.6012 | 3.8569 | 4.0149 | 4.2707 | 4.5264 | 4.6844 | 4.9402 |
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): | 46.25 | |
| MACD (12,26,9): | 0.0001 | |
| Directional Movement: | 3.5289 | |
| AROON (14): | 50.0000 | |
| DEMA (21): | 3.9871 | |
| Parabolic SAR (0,02-0,02-0,2): | 3.9768 | |
| Elder Ray (13): | -0.0025 | |
| Super Trend (3,10): | 4.0006 | |
| Zig ZAG (10): | 3.9825 | |
| VORTEX (21): | 0.9894 | |
| Stochastique (14,3,5): | 58.01 | |
| TEMA (21): | 3.9900 | |
| Williams %R (14): | -55.84 | |
| Chande Momentum Oscillator (20): | 0.0115 | |
| Repulse (5,40,3): | -0.2500 | |
| ROCnROLL: | 2 | |
| TRIX (15,9): | -0.0018 | |
| Courbe Coppock: | 0.36 |
| MA7: | 4.0733 | |
| MA20: | 4.2420 | |
| MA50: | 4.4123 | |
| MA100: | 4.4436 | |
| MAexp7: | 3.9886 | |
| MAexp20: | 3.9879 | |
| MAexp50: | 3.9920 | |
| MAexp100: | 4.0054 | |
| Price / MA7: | -2.05% | |
| Price / MA20: | -5.94% | |
| Price / MA50: | -9.57% | |
| Price / MA100: | -10.21% | |
| Price / MAexp7: | +0.02% | |
| Price / MAexp20: | +0.04% | |
| Price / MAexp50: | -0.06% | |
| Price / MAexp100: | -0.40% |
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:
-
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
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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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