COPPER

- USD (-)

- 10 min delayed data - COMEX Futures

Open:	-
Change:	-
Volume:	-

Low:	-
High:	-
High / Low range:	-

Type:	Commodities
Ticker:	CA
ISIN:

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: Strongly bullish

Underlying: Strongly bullish

Technical indicators

78%

17%

My opinion

Bullish above 4.0265 USD

My targets

4.1225 USD (+2.18%)

4.2460 USD (+5.24%)

My analysis

All elements being clearly bullish, it would be possible for traders to trade only long positions (at the time of purchase) on COPPER as long as the price remains well above 4.0265 USD. The buyers' bullish objective is set at 4.1225 USD. A bullish break in this resistance would boost the bullish momentum. The buyers could then target the resistance located at 4.2460 USD. If there is any crossing, the next objective would be the resistance located at 4.3420 USD. However, beware of bullish excesses that could lead to a possible short-term correction; but this possible correction would not be tradeable.

Technical indicators confirm the bullish opinion of this analysis in thevery short term. However, be careful of excessive bullish movements. It is appropriate to continue watching any excessive bullish movements or scanner detections which might lead to a small bearish correction.

Force

7.7

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

Additional analysis

Quotes

The COPPER rating is 4.0345 USD. The price registered an increase of +0.89% on the session and was between 3.9600 USD and 4.0600 USD. This implies that the price is at +1.88% from its lowest and at -0.63% from its highest.

3.9600

4.0600

4.0345

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:

The study of the highest / lowest by the Central Records scanner shows the following result:

Near a new LOW record (1 month)

Type : Bearish

Timeframe : Weekly

Technical

Technical analysis of this 15 min. chart of COPPER indicates that the overall trend is strongly bullish. 85.71% of the signals given by moving averages are bullish. The overall trend is supported by the strong bullish signals from short-term moving averages. The Central Indicators scanner does not detect any result on moving averages that would impact this trend.

The probability of a further increase is high given the direction of the technical indicators.
Caution: the Central Indicators scanner currently detects an excess:

CCI indicator is overbought : over 100

Type : Neutral

Timeframe : 15 minutes

Williams %R indicator is overbought : over -20

Type : Neutral

Timeframe : 15 minutes

Central Indicators, the scanner specialised in technical indicators, has identified this signal:

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.

No result was found by the Central Candlesticks scanner on Japanese candlesticks.

ProTrendLines

Price

	S3	S2	S1	Price	R1	R2	R3
ProTrendLines	3.9305	3.9862	4.0300	4.0345	4.0550	4.1013	4.1560
Change (%)	-2.58%	-1.20%	-0.11%	-	+0.51%	+1.66%	+3.01%
Change	-0.1040	-0.0483	-0.0045	-	+0.0205	+0.0668	+0.1215
Level	Intermediate	Major	Intermediate	-	Intermediate	Minor	Intermediate

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	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 the technical indicators and moving averages at the time of publication of this technical analysis:

Technical indicators

Moving averages

RSI (14):	66.31
MACD (12,26,9):	0.0119
Directional Movement:	18.7213
AROON (14):	78.5714
DEMA (21):	4.0277
Parabolic SAR (0,02-0,02-0,2):	4.0187
Elder Ray (13):	0.0181
Super Trend (3,10):	3.9960
Zig ZAG (10):	4.0365
VORTEX (21):	1.2027
Stochastique (14,3,5):	89.15
TEMA (21):	4.0404
Williams %R (14):	-4.03
Chande Momentum Oscillator (20):	0.0275
Repulse (5,40,3):	0.2046
ROCnROLL:	1
TRIX (15,9):	0.0349
Courbe Coppock:	1.97

MA7:	4.0811
MA20:	4.2447
MA50:	4.4134
MA100:	4.4442
MAexp7:	4.0312
MAexp20:	4.0137
MAexp50:	4.0038
MAexp100:	4.0091
Price / MA7:	-1.14%
Price / MA20:	-4.95%
Price / MA50:	-8.59%
Price / MA100:	-9.22%
Price / MAexp7:	+0.08%
Price / MAexp20:	+0.52%
Price / MAexp50:	+0.77%
Price / MAexp100:	+0.63%

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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