COPPER - 1H - Technical analysis published on 08/02/2021 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : INVALID
Analysis too old. There are no more charts available.
Summary of the analysis
Trends
Short term:
Bullish
Underlying:
Bullish
Technical indicators
83%
0%
17%
My opinion
Bullish above 4.5048 USD
My targets
4.5560 USD (+0.85%)
4.6285 USD (+2.46%)
My analysis
A bullish trend on COPPER both in substance and in the short term. A purchase could be considered as long as the price remains above 4.5048 USD. Each resistance break is a strong signal that the current trend will continue. The first bullish objective would be 4.5560 USD. Then the price could move towards 4.6285 USD. Then 4.7620 USD by extension. Be careful, a return below 4.5048 USD would be a sign of the trend weakening and a possible correction phase could then occur. In this case, you could keep away while waiting for a signal that the basic trend will resume. Trading against the trend could be riskier.
In the very short term, the general bullish sentiment is confirmed by technical indicators. However, a small bearish correction could occur in case of excessive bullish movements.
Force
0
10
5.2
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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
COPPER rating 4.5175 USD. The price has increased by +0.78% since the last closing and was traded between 4.4660 USD and 4.5195 USD over the period. The price is currently at +1.15% from its lowest and -0.04% from its highest.4.4660
4.5195
4.5175
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
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 (1 month)
Type : Bullish
Timeframe : Weekly
Technical
A technical analysis in 1H of this COPPER chart shows a bullish trend. The signals given by moving averages are 64.29% bullish. This bullish trend is slowing down slightly given the slightly bullish signals of short-term moving averages. The Central Indicators scanner detects bullish signals on moving averages that could impact this trend:
Bullish trend reversal : adaptative moving average 50
Type : Bullish
Timeframe : 1 hour
Bullish price crossover with adaptative moving average 20
Type : Bullish
Timeframe : 1 hour
In fact, according to the parameters integrated into the Central Analyzer system, 15 technical indicators out of 18 analysed are currently bullish. But beware of excesses. The Central Indicators scanner currently detects this:
CCI indicator is overbought : over 100
Type : Neutral
Timeframe : 1 hour
Williams %R indicator is overbought : over -20
Type : Neutral
Timeframe : 1 hour
RSI indicator is back over 50
Type : Bullish
Timeframe : 1 hour
Price is back over the pivot point
Type : Bullish
Timeframe : Weekly
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 | 4.3404 | 4.4294 | 4.5048 | 4.5175 | 4.5560 | 4.6285 | 4.7620 |
| Change (%) | -3.92% | -1.95% | -0.28% | - | +0.85% | +2.46% | +5.41% |
| Change | -0.1771 | -0.0881 | -0.0127 | - | +0.0385 | +0.1110 | +0.2445 |
| Level | Major | Major | Minor | - | Intermediate | Major | Major |
Attention could also be paid to pivot points to set price objectives:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 4.3207 | 4.3828 | 4.4317 | 4.4938 | 4.5427 | 4.6048 | 4.6537 |
| Camarilla | 4.4500 | 4.4602 | 4.4703 | 4.4805 | 4.4907 | 4.5009 | 4.5110 |
| Woodie | 4.3140 | 4.3795 | 4.4250 | 4.4905 | 4.5360 | 4.6015 | 4.6470 |
| Fibonacci | 4.3828 | 4.4252 | 4.4514 | 4.4938 | 4.5362 | 4.5624 | 4.6048 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 4.1820 | 4.3005 | 4.3905 | 4.5090 | 4.5990 | 4.7175 | 4.8075 |
| Camarilla | 4.4232 | 4.4423 | 4.4614 | 4.4805 | 4.4996 | 4.5187 | 4.5378 |
| Woodie | 4.1678 | 4.2934 | 4.3763 | 4.5019 | 4.5848 | 4.7104 | 4.7933 |
| Fibonacci | 4.3005 | 4.3802 | 4.4294 | 4.5090 | 4.5887 | 4.6379 | 4.7175 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 3.7612 | 3.9638 | 4.2222 | 4.4248 | 4.6832 | 4.8858 | 5.1442 |
| Camarilla | 4.3537 | 4.3960 | 4.4382 | 4.4805 | 4.5228 | 4.5650 | 4.6073 |
| Woodie | 3.7890 | 3.9778 | 4.2500 | 4.4388 | 4.7110 | 4.8998 | 5.1720 |
| Fibonacci | 3.9638 | 4.1399 | 4.2487 | 4.4248 | 4.6009 | 4.7097 | 4.8858 |
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): | 59.17 | |
| MACD (12,26,9): | -0.0049 | |
| Directional Movement: | -3.0479 | |
| AROON (14): | 92.8571 | |
| DEMA (21): | 4.4922 | |
| Parabolic SAR (0,02-0,02-0,2): | 4.4485 | |
| Elder Ray (13): | 0.0196 | |
| Super Trend (3,10): | 4.5351 | |
| Zig ZAG (10): | 4.5265 | |
| VORTEX (21): | 0.9576 | |
| Stochastique (14,3,5): | 92.79 | |
| TEMA (21): | 4.4969 | |
| Williams %R (14): | -3.00 | |
| Chande Momentum Oscillator (20): | 0.0520 | |
| Repulse (5,40,3): | 0.7389 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | -0.0464 | |
| Courbe Coppock: | 0.84 |
| MA7: | 4.4590 | |
| MA20: | 4.3479 | |
| MA50: | 4.3976 | |
| MA100: | 4.3483 | |
| MAexp7: | 4.5070 | |
| MAexp20: | 4.5028 | |
| MAexp50: | 4.5109 | |
| MAexp100: | 4.4831 | |
| Price / MA7: | +1.31% | |
| Price / MA20: | +3.90% | |
| Price / MA50: | +2.73% | |
| Price / MA100: | +3.89% | |
| Price / MAexp7: | +0.23% | |
| Price / MAexp20: | +0.33% | |
| Price / MAexp50: | +0.15% | |
| Price / MAexp100: | +0.77% |
Quotes :
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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:
-
Why A Looming Copper Shortage Has Big Consequences For The Green Economy
-
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
This member declared not having a position on this financial instrument or a related financial instrument.
About author
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