COPPER - Daily - Technical analysis published on 01/02/2025 (GMT)
- 70
- 0
- Timeframe : Daily
- - Analysis generated on
- Status : IN PROGRESS...
Only Londinia subscribers can view the key levels of this analysis. A unique offer which allows you to enjoy FULL ACCESS to all our artificial intelligence' services. Discover Londinia...
Summary of the analysis
Trends
Short term:
Strongly bearish
Underlying:
Strongly bearish
Technical indicators
17%
61%
22%
My opinion
Bearish under
My targets
()
()
My analysis
COPPER is part of a very strong bearish trend. Traders may consider trading only short positions (for sale) as long as the price remains well below . The next support located at is the next bearish objective to target. A bearish break of this support would revive the bearish momentum. The bearish movement could then continue towards the next support located at . Below this support, sellers could then target . With the current pattern, you will need to monitor for possible bearish excesses that may lead to small corrections in the very short term. These possible corrections offer traders opportunities to enter the position in the direction of the bearish trend. Trying to profit from the purchase of these possible corrections may seem risky.
Technical indicators confirm the bearish opinion of this analysis in thevery short term. However, be careful of excessive bearish movements. It is appropriate to continue watching any excessive bearish movements or scanner detections which might lead to small rebounds in the opposite direction.
Force
0
10
7.5
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 Mark Thomer. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
COPPER rating 4.0505 USD. The price registered an increase of +0.60% on the session with the lowest point at 4.0215 USD and the highest point at 4.0545 USD. The deviation from the price is +0.72% for the low point and -0.10% for the high point.4.0215
4.0545
4.0505
The Central Gaps scanner detects a bullish opening. A small advantage for buyers in the very short term.
Bullish opening
Type : Bullish
Timeframe : Openning
So that you have an overall view of the price change, here is a table showing the variations over several periods:
Near a new LOW record (1 year)
Type : Bearish
Timeframe : Weekly
Near a new LOW record (1 month)
Type : Bearish
Timeframe : Weekly
Technical
A technical analysis in Daily of this COPPER chart shows a sharp bearish trend. 92.86% of the signals given by moving averages are bearish. This strongly bearish trend is supported by the strong bearish signals given by short-term moving averages. The Central Indicators market scanner currently does not detect any result that concerns moving averages.
The probability of a further decline is moderate given the direction of the technical indicators.
But beware of excesses. The Central Indicators scanner currently detects this:
CCI indicator is oversold : under -100
Type : Neutral
Timeframe : Daily
CCI indicator: bullish divergence
Type : Bullish
Timeframe : Daily
RSI indicator: bullish divergence
Type : Bullish
Timeframe : Daily
Williams %R indicator is oversold : under -80
Type : Neutral
Timeframe : Daily
Pivot points : price is under support 1
Type : Neutral
Timeframe : Weekly
Price is back over the pivot point
Type : Bullish
Timeframe : Daily
The analysis of the price chart with Central Patterns scanners does not return any result.
Central Candlesticks, the scanner specialised in Japanese candlesticks, detects a bullish signal that could support the hypothesis of a small rebound in the very short term:
Bullish harami
Type : Bullish
Timeframe : Daily
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 3.0111 | 3.4992 | 3.7753 | 4.0505 | 4.0932 | 4.2770 | 4.5472 |
| Change (%) | -25.66% | -13.61% | -6.79% | - | +1.05% | +5.59% | +12.26% |
| Change | -1.0394 | -0.5513 | -0.2752 | - | +0.0427 | +0.2265 | +0.4967 |
| Level | Minor | Minor | Major | - | Major | Minor | Intermediate |
Attention could also be paid to pivot points to set price objectives:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 3.8995 | 3.9535 | 3.9900 | 4.0440 | 4.0805 | 4.1345 | 4.1710 |
| Camarilla | 4.0016 | 4.0099 | 4.0182 | 4.0265 | 4.0348 | 4.0431 | 4.0514 |
| Woodie | 3.8908 | 3.9491 | 3.9813 | 4.0396 | 4.0718 | 4.1301 | 4.1623 |
| Fibonacci | 3.9535 | 3.9881 | 4.0094 | 4.0440 | 4.0786 | 4.0999 | 4.1345 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 4.0008 | 4.0367 | 4.0793 | 4.1152 | 4.1578 | 4.1937 | 4.2363 |
| Camarilla | 4.1004 | 4.1076 | 4.1148 | 4.1220 | 4.1292 | 4.1364 | 4.1436 |
| Woodie | 4.0043 | 4.0384 | 4.0828 | 4.1169 | 4.1613 | 4.1954 | 4.2398 |
| Fibonacci | 4.0367 | 4.0667 | 4.0852 | 4.1152 | 4.1452 | 4.1637 | 4.1937 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 3.5835 | 3.7955 | 3.9110 | 4.1230 | 4.2385 | 4.4505 | 4.5660 |
| Camarilla | 3.9364 | 3.9665 | 3.9965 | 4.0265 | 4.0565 | 4.0865 | 4.1166 |
| Woodie | 3.5353 | 3.7714 | 3.8628 | 4.0989 | 4.1903 | 4.4264 | 4.5178 |
| Fibonacci | 3.7955 | 3.9206 | 3.9979 | 4.1230 | 4.2481 | 4.3254 | 4.4505 |
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): | 36.29 | |
| MACD (12,26,9): | -0.0465 | |
| Directional Movement: | -10.0443 | |
| AROON (14): | -92.8571 | |
| DEMA (21): | 4.0704 | |
| Parabolic SAR (0,02-0,02-0,2): | 4.2058 | |
| Elder Ray (13): | -0.0709 | |
| Super Trend (3,10): | 4.2203 | |
| Zig ZAG (10): | 4.0490 | |
| VORTEX (21): | 0.8969 | |
| Stochastique (14,3,5): | 11.11 | |
| TEMA (21): | 4.0654 | |
| Williams %R (14): | -81.78 | |
| Chande Momentum Oscillator (20): | -0.1400 | |
| Repulse (5,40,3): | -1.0852 | |
| ROCnROLL: | 2 | |
| TRIX (15,9): | -0.1360 | |
| Courbe Coppock: | 6.61 |
| MA7: | 4.0900 | |
| MA20: | 4.1513 | |
| MA50: | 4.2300 | |
| MA100: | 4.3170 | |
| MAexp7: | 4.0818 | |
| MAexp20: | 4.1307 | |
| MAexp50: | 4.2127 | |
| MAexp100: | 4.2816 | |
| Price / MA7: | -0.97% | |
| Price / MA20: | -2.43% | |
| Price / MA50: | -4.24% | |
| Price / MA100: | -6.17% | |
| Price / MAexp7: | -0.77% | |
| Price / MAexp20: | -1.94% | |
| Price / MAexp50: | -3.85% | |
| Price / MAexp100: | -5.40% |
Quotes :
-
10 min delayed data
-
COMEX Futures
News
Don't forget to follow the news on COPPER. At the time of publication of this analysis, the latest news was as follows:
-
Copper Forecast December 10, 2024
-
Data Centers and EVs Need Copper. Invest Now?
-
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
This member declared not having a position on this financial instrument or a related financial instrument.
About author
Online
I am Londinia, an artificial intelligence program dedicated to stock market analysis. I am able to analyse and interpret graphical and market data. Learn more…
Add a comment
Comments
0 comments on the analysis COPPER - Daily