COPPER - 1H - Technical analysis published on 05/19/2021 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : LEVEL MAINTAINED
Analysis too old. There are no more charts available.
Summary of the analysis
Trends
Short term:
Strongly bearish
Underlying:
Strongly bearish
Technical indicators
22%
56%
22%
My opinion
Bearish under 4.6285 USD
My targets
4.4342 USD (-3.53%)
4.2945 USD (-6.57%)
My analysis
All elements being clearly bearish, it would be possible for traders to trade only short positions (for sale) on COPPER as long as the price remains well below 4.6285 USD. The sellers' bearish objective is set at 4.4342 USD. A bearish break of this support would revive the bearish momentum. The sellers could then target the support located at 4.2945 USD. In case of crossing, the next objective would be the support located at 4.0635 USD. However, beware of bearish excesses that could lead to a short-term correction; but this possible correction will not be tradeable.
In the very short term, technical indicators are neutral, but do not change the general bearish opinion of this analysis.
Force
0
10
6.8
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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 rating is 4.5965 USD. On the day, this instrument lost -2.73% and was traded between 4.5855 USD and 4.7280 USD over the period. The price is currently at +0.24% from its lowest and -2.78% from its highest.4.5855
4.7280
4.5965
The Central Gaps scanner detects a bearish opening marking the presence of sellers ahead of buyers at the opening but not sufficiently marked to allow the price to register a quotation gap.
Bearish opening
Type : Bearish
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 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 strongly bearish. The signals given by moving averages are 89.29% bearish. This strong bearish trend is confirmed 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, 4 are neutral and 10 are bearish. But beware of excesses. The Central Indicators scanner currently detects this:
RSI indicator is oversold : under 20
Type : Neutral
Timeframe : 1 hour
CCI indicator is oversold : under -100
Type : Neutral
Timeframe : 1 hour
Williams %R indicator is oversold : under -80
Type : Neutral
Timeframe : 1 hour
Pivot points : price is under support 3
Type : Neutral
Timeframe : 1 hour
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.
Central Candlesticks, the scanner specialised in Japanese candlesticks, detects this inversion signal that could impact the current short-term trend:
Doji
Type : Neutral
Timeframe : 1 hour
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 3.5218 | 4.0635 | 4.2945 | 4.5965 | 4.6285 | 4.7063 | 4.7820 |
| Change (%) | -23.38% | -11.60% | -6.57% | - | +0.70% | +2.39% | +4.04% |
| Change | -1.0747 | -0.5330 | -0.3020 | - | +0.0320 | +0.1098 | +0.1855 |
| Level | Intermediate | Major | Intermediate | - | Major | Minor | Minor |
Attention could also be paid to pivot points to set price objectives:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 4.6143 | 4.6592 | 4.6923 | 4.7372 | 4.7703 | 4.8152 | 4.8483 |
| Camarilla | 4.7041 | 4.7112 | 4.7184 | 4.7255 | 4.7327 | 4.7398 | 4.7470 |
| Woodie | 4.6085 | 4.6563 | 4.6865 | 4.7343 | 4.7645 | 4.8123 | 4.8425 |
| Fibonacci | 4.6592 | 4.6890 | 4.7074 | 4.7372 | 4.7670 | 4.7854 | 4.8152 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 4.2623 | 4.4342 | 4.5443 | 4.7162 | 4.8263 | 4.9982 | 5.1083 |
| Camarilla | 4.5770 | 4.6028 | 4.6287 | 4.6545 | 4.6804 | 4.7062 | 4.7321 |
| Woodie | 4.2315 | 4.4188 | 4.5135 | 4.7008 | 4.7955 | 4.9828 | 5.0775 |
| Fibonacci | 4.4342 | 4.5419 | 4.6084 | 4.7162 | 4.8239 | 4.8904 | 4.9982 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 3.5573 | 3.7727 | 4.1203 | 4.3357 | 4.6833 | 4.8987 | 5.2463 |
| Camarilla | 4.3132 | 4.3648 | 4.4164 | 4.4680 | 4.5196 | 4.5712 | 4.6228 |
| Woodie | 3.6235 | 3.8058 | 4.1865 | 4.3688 | 4.7495 | 4.9318 | 5.3125 |
| Fibonacci | 3.7727 | 3.9877 | 4.1206 | 4.3357 | 4.5507 | 4.6836 | 4.8987 |
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): | 16.84 | |
| MACD (12,26,9): | -0.0285 | |
| Directional Movement: | -31.0635 | |
| AROON (14): | -71.4286 | |
| DEMA (21): | 4.6413 | |
| Parabolic SAR (0,02-0,02-0,2): | 4.6685 | |
| Elder Ray (13): | -0.0446 | |
| Super Trend (3,10): | 4.6790 | |
| Zig ZAG (10): | 4.6090 | |
| VORTEX (21): | 0.6865 | |
| Stochastique (14,3,5): | 10.16 | |
| TEMA (21): | 4.6167 | |
| Williams %R (14): | -95.26 | |
| Chande Momentum Oscillator (20): | -0.1065 | |
| Repulse (5,40,3): | -0.7892 | |
| ROCnROLL: | 2 | |
| TRIX (15,9): | -0.0565 | |
| Courbe Coppock: | 3.57 |
| MA7: | 4.6962 | |
| MA20: | 4.5760 | |
| MA50: | 4.2889 | |
| MA100: | 4.0304 | |
| MAexp7: | 4.6321 | |
| MAexp20: | 4.6735 | |
| MAexp50: | 4.6955 | |
| MAexp100: | 4.7005 | |
| Price / MA7: | -2.12% | |
| Price / MA20: | +0.45% | |
| Price / MA50: | +7.17% | |
| Price / MA100: | +14.05% | |
| Price / MAexp7: | -0.77% | |
| Price / MAexp20: | -1.65% | |
| Price / MAexp50: | -2.11% | |
| Price / MAexp100: | -2.21% |
Quotes :
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10 min delayed data
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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 expected to rise to record highs later this year
-
Copper: global supply falling behind demand
-
Have we seen a Copper Top - 26th February 2021
-
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
This member declared not having a position on this financial instrument or a related financial instrument.
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