COPPER - 1H - Technical analysis published on 10/28/2021 (GMT)
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I am pleased to note that the threshold for invalidation has been maintained for 20 Candlesticks.
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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:
Neutral
Underlying:
Bearish
Technical indicators
61%
6%
33%
My opinion
Bearish under 4.4712 USD
My targets
4.3630 USD (-1.52%)
4.2923 USD (-3.12%)
My analysis
We are currently in a phase of short-term indecision. In a case like this, you could favour trades in the direction of the basic trend on COPPER. As long as you are under the resistance located at 4.4712 USD, traders with an aggressive trading strategy could consider a sale. A cross of the support located at 4.3630 USD would be a signal of a reversal in the basic trend and the short-term trend could then quickly become bearish. Sellers would then use the next support located at 4.2923 USD as an objective. Crossing it would then enable sellers to target 4.0635 USD. If the resistance 4.4712 USD were to be broken, this would simply be a sign of possible further short-term consolidation and trading against this trend would then perhaps be more risky.
In the very short term, the general bearish opinion of this analysis is in opposition with technical indicators. As long as the invalidation level of this analysis is not breached, the bearish direction is still favored, however the current short term correction should be carefully watched.
Force
0
10
0.7
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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 4.4305 USD. On the day, this instrument gained +0.93% with the lowest point at 4.3525 USD and the highest point at 4.4635 USD. The deviation from the price is +1.79% for the low point and -0.74% for the high point.4.3525
4.4635
4.4305
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:
Technical
A technical analysis in 1H of this COPPER chart shows a bearish trend. The signals given by moving averages are 71.43% bearish. This bearish trend could slow down given the neutral signals currently being given by short-term moving averages. The Central Indicators scanner detects bearish signals on moving averages that could impact this trend:
Bearish price crossover with Moving Average 50
Type : Bearish
Timeframe : 1 hour
Bearish price crossover with adaptative moving average 100
Type : Bearish
Timeframe : 1 hour
In fact, according to the parameters integrated into the Central Analyzer system, 11 technical indicators out of 18 analysed are currently bullish. Caution: the Central Indicators scanner currently detects an excess:
CCI indicator is overbought : over 100
Type : Neutral
Timeframe : 1 hour
Previous candle closed over Bollinger bands
Type : Neutral
Timeframe : 1 hour
Williams %R indicator is overbought : over -20
Type : Neutral
Timeframe : 1 hour
Price is back under the pivot point
Type : Bearish
Timeframe : Weekly
The analysis of the price chart with Central Patterns scanners does not return any result.
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 | 4.0635 | 4.2923 | 4.3630 | 4.4305 | 4.4712 | 4.5099 | 4.5935 |
| Change (%) | -8.28% | -3.12% | -1.52% | - | +0.92% | +1.79% | +3.68% |
| Change | -0.3670 | -0.1382 | -0.0675 | - | +0.0407 | +0.0794 | +0.1630 |
| Level | Major | Intermediate | Intermediate | - | Minor | Intermediate | Intermediate |
Pivot points can also be used to set your price objectives. Here is the price situation in relation to pivot points:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 4.1847 | 4.2738 | 4.3317 | 4.4208 | 4.4787 | 4.5678 | 4.6257 |
| Camarilla | 4.3491 | 4.3626 | 4.3760 | 4.3895 | 4.4030 | 4.4165 | 4.4299 |
| Woodie | 4.1690 | 4.2660 | 4.3160 | 4.4130 | 4.4630 | 4.5600 | 4.6100 |
| Fibonacci | 4.2738 | 4.3300 | 4.3647 | 4.4208 | 4.4770 | 4.5117 | 4.5678 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 4.0030 | 4.2320 | 4.3650 | 4.5940 | 4.7270 | 4.9560 | 5.0890 |
| Camarilla | 4.3985 | 4.4316 | 4.4648 | 4.4980 | 4.5312 | 4.5644 | 4.5976 |
| Woodie | 3.9550 | 4.2080 | 4.3170 | 4.5700 | 4.6790 | 4.9320 | 5.0410 |
| Fibonacci | 4.2320 | 4.3703 | 4.4557 | 4.5940 | 4.7323 | 4.8177 | 4.9560 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 3.5237 | 3.7698 | 3.9792 | 4.2253 | 4.4347 | 4.6808 | 4.8902 |
| Camarilla | 4.0632 | 4.1050 | 4.1468 | 4.1885 | 4.2303 | 4.2720 | 4.3138 |
| Woodie | 3.5053 | 3.7606 | 3.9608 | 4.2161 | 4.4163 | 4.6716 | 4.8718 |
| Fibonacci | 3.7698 | 3.9438 | 4.0513 | 4.2253 | 4.3993 | 4.5068 | 4.6808 |
Numerical data
The following are the details of the technical indicators and moving averages that were collected to generate this technical analysis:
Technical indicators
Moving averages
| RSI (14): | 54.06 | |
| MACD (12,26,9): | -0.0060 | |
| Directional Movement: | 1.6120 | |
| AROON (14): | 35.7142 | |
| DEMA (21): | 4.4022 | |
| Parabolic SAR (0,02-0,02-0,2): | 4.3760 | |
| Elder Ray (13): | 0.0260 | |
| Super Trend (3,10): | 4.3686 | |
| Zig ZAG (10): | 4.4380 | |
| VORTEX (21): | 1.0332 | |
| Stochastique (14,3,5): | 86.19 | |
| TEMA (21): | 4.4163 | |
| Williams %R (14): | -22.97 | |
| Chande Momentum Oscillator (20): | 0.0450 | |
| Repulse (5,40,3): | 0.4630 | |
| ROCnROLL: | -1 | |
| TRIX (15,9): | -0.0591 | |
| Courbe Coppock: | 0.94 |
| MA7: | 4.5179 | |
| MA20: | 4.4459 | |
| MA50: | 4.3390 | |
| MA100: | 4.3320 | |
| MAexp7: | 4.4216 | |
| MAexp20: | 4.4159 | |
| MAexp50: | 4.4467 | |
| MAexp100: | 4.4917 | |
| Price / MA7: | -1.93% | |
| Price / MA20: | -0.35% | |
| Price / MA50: | +2.11% | |
| Price / MA100: | +2.27% | |
| Price / MAexp7: | +0.20% | |
| Price / MAexp20: | +0.33% | |
| Price / MAexp50: | -0.36% | |
| Price / MAexp100: | -1.36% |
Quotes :
-
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 (HG) Copper Chart Looking Explosive
-
Russia reopens dormant Siberian mine to benefit from copper price boom
-
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
This member declared not having a position on this financial instrument or a related financial instrument.
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