COPPER - 1H - Technical analysis published on 02/13/2025 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : INVALID
Summary of the analysis
Trends
Short term:
Strongly bullish
Underlying:
Strongly bullish
Technical indicators
61%
11%
28%
My opinion
Bullish above 4.7237 USD
My targets
4.8847 USD (+2.88%)
5.0422 USD (+6.20%)
My analysis
COPPER is part of a very strong bullish trend. Traders may consider trading only long positions (at the time of purchase) as long as the price remains well above 4.7237 USD. The next resistance located at 4.8847 USD is the next bullish objective to be reached. A bullish break in this resistance would boost the bullish momentum. The bullish movement could then continue towards the next resistance located at 5.0422 USD. After this resistance, buyers could then target 5.2402 USD. With the current pattern, you will need to monitor for possible bullish 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 bullish trend. Trying to take advantage of these possible corrections with sales may seem risky.
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
0
10
7.7
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Additional analysis
Quotes
The COPPER price is 4.7480 USD. On the day, this instrument gained +0.93% and was traded between 4.6835 USD and 4.7505 USD over the period. The price is currently at +1.38% from its lowest and -0.05% from its highest.4.6835
4.7505
4.7480
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
Here is a more detailed summary of the historical variations registered by COPPER:
New HIGH record (1st january)
Type : Bullish
Timeframe : Weekly
New HIGH record (1 month)
Type : Bullish
Timeframe : Weekly
Technical
Technical analysis of this 1H chart of COPPER indicates that the overall trend is strongly bullish. The signals given by the moving averages are 92.86% bullish. This strong bullish trend is confirmed by the strong signals currently being given by 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 are moderate 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 : 1 hour
Williams %R indicator is overbought : over -20
Type : Neutral
Timeframe : 1 hour
Parabolic SAR indicator bullish reversal
Type : Bullish
Timeframe : 1 hour
No signals are given by Central Patterns, a market scanner specialised in chart patterns, resistances and supports.
The Central Candlesticks scanner which studies Japanese candlesticks did not detect anything.
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 4.4410 | 4.5472 | 4.7237 | 4.7480 | 4.8947 | 5.0422 | 5.2402 |
| Change (%) | -6.47% | -4.23% | -0.51% | - | +3.09% | +6.20% | +10.37% |
| Change | -0.3070 | -0.2008 | -0.0243 | - | +0.1467 | +0.2942 | +0.4922 |
| Level | Major | Major | Major | - | Minor | Intermediate | Major |
Attention could also be paid to pivot points to set price objectives:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 4.4788 | 4.5272 | 4.6158 | 4.6642 | 4.7528 | 4.8012 | 4.8898 |
| Camarilla | 4.6668 | 4.6794 | 4.6919 | 4.7045 | 4.7171 | 4.7296 | 4.7422 |
| Woodie | 4.4990 | 4.5373 | 4.6360 | 4.6743 | 4.7730 | 4.8113 | 4.9100 |
| Fibonacci | 4.5272 | 4.5795 | 4.6118 | 4.6642 | 4.7165 | 4.7488 | 4.8012 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 3.8878 | 4.0357 | 4.3123 | 4.4602 | 4.7368 | 4.8847 | 5.1613 |
| Camarilla | 4.4723 | 4.5112 | 4.5501 | 4.5890 | 4.6279 | 4.6668 | 4.7057 |
| Woodie | 3.9523 | 4.0679 | 4.3768 | 4.4924 | 4.8013 | 4.9169 | 5.2258 |
| Fibonacci | 4.0357 | 4.1978 | 4.2980 | 4.4602 | 4.6223 | 4.7225 | 4.8847 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 3.5677 | 3.7863 | 4.0327 | 4.2513 | 4.4977 | 4.7163 | 4.9627 |
| Camarilla | 4.1511 | 4.1938 | 4.2364 | 4.2790 | 4.3216 | 4.3643 | 4.4069 |
| Woodie | 3.5815 | 3.7933 | 4.0465 | 4.2583 | 4.5115 | 4.7233 | 4.9765 |
| Fibonacci | 3.7863 | 3.9640 | 4.0737 | 4.2513 | 4.4290 | 4.5387 | 4.7163 |
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): | 62.20 | |
| MACD (12,26,9): | 0.0206 | |
| Directional Movement: | 10.2711 | |
| AROON (14): | 35.7143 | |
| DEMA (21): | 4.7239 | |
| Parabolic SAR (0,02-0,02-0,2): | 4.7397 | |
| Elder Ray (13): | 0.0073 | |
| Super Trend (3,10): | 4.6776 | |
| Zig ZAG (10): | 4.7180 | |
| VORTEX (21): | 1.2824 | |
| Stochastique (14,3,5): | 45.80 | |
| TEMA (21): | 4.7292 | |
| Williams %R (14): | -43.90 | |
| Chande Momentum Oscillator (20): | 0.0225 | |
| Repulse (5,40,3): | 0.1841 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | 0.0763 | |
| Courbe Coppock: | 1.16 |
| MA7: | 4.6036 | |
| MA20: | 4.4103 | |
| MA50: | 4.2805 | |
| MA100: | 4.3336 | |
| MAexp7: | 4.7122 | |
| MAexp20: | 4.6952 | |
| MAexp50: | 4.6605 | |
| MAexp100: | 4.6127 | |
| Price / MA7: | +3.14% | |
| Price / MA20: | +7.66% | |
| Price / MA50: | +10.92% | |
| Price / MA100: | +9.56% | |
| Price / MAexp7: | +0.76% | |
| Price / MAexp20: | +1.12% | |
| Price / MAexp50: | +1.88% | |
| Price / MAexp100: | +2.93% |
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:
-
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.
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