COPPER - 1H - Technical analysis published on 03/23/2021 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : TARGET REACHED
Analysis too old. There are no more charts available.
Summary of the analysis
Trends
Court terme:
Strongly bearish
De fond:
Slightly bearish
Technical indicators
22%
44%
33%
My opinion
Bearish under 4.1101 USD
My targets
4.0635 USD (-0.67%)
4.0405 USD (-1.23%)
My analysis
COPPER is currently trying to strengthen its basic trend with a very bearish short term. As long as the price remains below 4.1101 USD, traders may consider taking advantage of this bearish acceleration and setting themselves to trade only in short positions (for sale). Sellers will encounter the support at 4.0635 USD. A bearish break in this support would confirm a continuation of the bearish acceleration. The next support located at 4.0405 USD would then be the next bearish objective for sellers. Crossing it would then enable sellers to target 4.0102 USD. Beware of a possible return to above the resistance located at 4.1101 USD which would be a sign of a correction of the short-term bearish excesses registered.
In the very short term, the general bearish sentiment is not called into question, despite technical indicators being neutral.
Force
0
10
3.2
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This analysis was given by Vincent Launay. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
The COPPER price is 4.0910 USD. On the day, this instrument lost -1.17% with the lowest point at 4.0600 USD and the highest point at 4.1650 USD. The deviation from the price is +0.76% for the low point and -1.78% for the high point.4.0600
4.1650
4.0910
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:
Near a new HIGH record (5 years)
Type : Bullish
Timeframe : Weekly
Near a new HIGH record (1st january)
Type : Bullish
Timeframe : Weekly
Near a new HIGH record (1 month)
Type : Bullish
Timeframe : Weekly
Technical
Technical analysis of this 1H chart of COPPER indicates that the overall trend is slightly bearish. Only 57.14% of the signals given by moving averages are bearish. This slightly bearish trend is reinforced by the strong signals currently being given by short-term moving averages. There is no crossing of moving average by the price or crossing of moving averages between themselves.
On the 18 technical indicators analysed, 4 are bullish, 6 are neutral and 8 are bearish. Caution: the Central Indicators scanner currently detects an excess:
CCI indicator: bearish divergence
Type : Bearish
Timeframe : 1 hour
CCI indicator: bullish divergence
Type : Bullish
Timeframe : 1 hour
MACD indicator: bearish divergence
Type : Bearish
Timeframe : 1 hour
MACD indicator: bullish divergence
Type : Bullish
Timeframe : 1 hour
RSI indicator: bearish divergence
Type : Bearish
Timeframe : 1 hour
RSI indicator: bullish divergence
Type : Bullish
Timeframe : 1 hour
Pivot points : price is over resistance 3
Type : Neutral
Timeframe : 1 hour
Pivot points : price is under support 3
Type : Neutral
Timeframe : 1 hour
The analysis of the price chart with Central Patterns scanners does not return any result.
The presence of a bullish Japanese candlestick pattern detected by Central Candlesticks that could cause a very short term rebound was also detected:
Bullish engulfing lines
Type : Bullish
Timeframe : 1 hour
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 4.0405 | 4.0635 | 4.0815 | 4.0910 | 4.1101 | 4.1494 | 4.1880 |
| Change (%) | -1.23% | -0.67% | -0.23% | - | +0.47% | +1.43% | +2.37% |
| Change | -0.0505 | -0.0275 | -0.0095 | - | +0.0191 | +0.0584 | +0.0970 |
| Level | Minor | Major | Intermediate | - | Minor | Intermediate | Minor |
Attention could also be paid to pivot points to set price objectives:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 4.0223 | 4.0492 | 4.0943 | 4.1212 | 4.1663 | 4.1932 | 4.2383 |
| Camarilla | 4.1197 | 4.1263 | 4.1329 | 4.1395 | 4.1461 | 4.1527 | 4.1593 |
| Woodie | 4.0315 | 4.0538 | 4.1035 | 4.1258 | 4.1755 | 4.1978 | 4.2475 |
| Fibonacci | 4.0492 | 4.0767 | 4.0937 | 4.1212 | 4.1487 | 4.1657 | 4.1932 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 3.8395 | 3.9250 | 4.0190 | 4.1045 | 4.1985 | 4.2840 | 4.3780 |
| Camarilla | 4.0636 | 4.0801 | 4.0966 | 4.1130 | 4.1295 | 4.1459 | 4.1624 |
| Woodie | 3.8438 | 3.9271 | 4.0233 | 4.1066 | 4.2028 | 4.2861 | 4.3823 |
| Fibonacci | 3.9250 | 3.9936 | 4.0359 | 4.1045 | 4.1731 | 4.2154 | 4.2840 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 2.7580 | 3.1290 | 3.6210 | 3.9920 | 4.4840 | 4.8550 | 5.3470 |
| Camarilla | 3.8757 | 3.9548 | 4.0339 | 4.1130 | 4.1921 | 4.2712 | 4.3503 |
| Woodie | 2.8185 | 3.1593 | 3.6815 | 4.0223 | 4.5445 | 4.8853 | 5.4075 |
| Fibonacci | 3.1290 | 3.4587 | 3.6623 | 3.9920 | 4.3217 | 4.5253 | 4.8550 |
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): | 46.81 | |
| MACD (12,26,9): | -0.0072 | |
| Directional Movement: | -5.5059 | |
| AROON (14): | -71.4285 | |
| DEMA (21): | 4.0977 | |
| Parabolic SAR (0,02-0,02-0,2): | 4.1346 | |
| Elder Ray (13): | -0.0063 | |
| Super Trend (3,10): | 4.1452 | |
| Zig ZAG (10): | 4.0950 | |
| VORTEX (21): | 0.9208 | |
| Stochastique (14,3,5): | 26.19 | |
| TEMA (21): | 4.0866 | |
| Williams %R (14): | -70.00 | |
| Chande Momentum Oscillator (20): | -0.0370 | |
| Repulse (5,40,3): | 0.0241 | |
| ROCnROLL: | 2 | |
| TRIX (15,9): | -0.0102 | |
| Courbe Coppock: | 2.08 |
| MA7: | 4.1129 | |
| MA20: | 4.1194 | |
| MA50: | 3.8736 | |
| MA100: | 3.6444 | |
| MAexp7: | 4.0941 | |
| MAexp20: | 4.1046 | |
| MAexp50: | 4.1066 | |
| MAexp100: | 4.1041 | |
| Price / MA7: | -0.53% | |
| Price / MA20: | -0.69% | |
| Price / MA50: | +5.61% | |
| Price / MA100: | +12.25% | |
| Price / MAexp7: | -0.08% | |
| Price / MAexp20: | -0.33% | |
| Price / MAexp50: | -0.38% | |
| Price / MAexp100: | -0.32% |
Quotes :
2021-03-23 13:56:12
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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:
-
Have we seen a Copper Top - 26th February 2021
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Adventus Mining – Copper And Gold Development In Ecuador. The Company Is Not Discovered Yet
-
COPPER BREAKOUT: Free Trade Zone In Asia Is Online And China Grows Well. COPPER Is The TOP Metal
-
Market Sentiment Neutral but Nasdaq, Copper, Iron Ore Trending Higher | Webinar
-
COPPER, OIL And GOLD Are ALL IN HIGH DEMAND And WORTH To Be Invested In 2021
This member declared not having a position on this financial instrument or a related financial instrument.
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