Copper (HG1) Underperforms All metals; 2 Day Up Streak Broken
Those trading within the metals asset class should know that copper was the worst performer in the class today.
Metals News
Last Updated February 25, 2021 at 2:50 GMT
The instruments in the metals asset class that made the biggest moves, on a percentage basis, over the past day were Palladium, Platinum, and Copper. The chart below illustrates. Note that Copper made an especially large and surprising move over the past day.
Trend News
Over the past two weeks, the strongest trend has been on Copper. Alternatively, on a 90 day basis, the strongest trend appears on Platinum.Moving Averages In The Metals World
Pairs that crossed notable moving average levels include Palladium; they crossed their 50 day moving averages, respectively. From the perspective of the alignment of moving averages — meaning where moving averages are ordered by their duration — we see that Platinum has perhaps the strongest trend. See the chart below.
Palladium (XPDUSD) Makes Big Move Relative to Two Week Trend, Moves Up For the 2nd Day In A Row; Price Base in Formation Over Past 90 Days
Out of the 5 instruments in the metals asset class, palladium ended up ranking 3rd for the day in terms of price change relative to the day prior.
Silver (XAGUSD) Outperforms All metals, Up 0.51%; in an Uptrend Over Past 14 Days
Extremely undervalued & highly leveraged to a rising silver price.
Platinum (XPTUSD) Down 0.61%; in an Uptrend Over Past 14 Days
Relative to other instruments in the metals asset class, platinum ranked 4th since the previous day in terms of percentage price change.
Gold (XAUUSD) 3 Day Down Streak Snapped; in an Uptrend Over Past 14 Days
Relative to other instruments in the metals asset class, gold ranked 2nd since yesterday in terms of percentage price change.
Gold (XAUUSD) Fares the Worst Out of metals, Moves Down For the 3rd Day In A Row; But Still in an Uptrend Over Past 14 Days
A bunch of front companies sold him a whole lot of gold but the gold price didn’t do anything because the supply was from lead.
Platinum (XPTUSD) Down 1.1%, in an Uptrend Over Past 14 Days; Price Base in Formation Over Past 30 Days
Also of note is that on a 30 day basis price appears to be forming a base — which could the stage for it being a support/resistance level going forward.
Silver (XAGUSD) Down 1.57%, Price Base in Formation Over Past 30 Days; Pin Bar Pattern Appearing on Chart
Price action traders in particular will want to note that the 30 day period appears to show price forming a base; this could indicate that a support/resistance level is developing.
Copper (HG1) Outperforms All metals, Moves Up For the 2nd Day In A Row; in an Uptrend Over Past 14 Days
For additional context, note that price has gone down 16 out of the past 30 days.
Palladium (XPDUSD) 2 Day Down Streak Broken, Price Base in Formation Over Past 90 Days; Pin Bar Pattern Appearing on Chart
Or to view things another way, note that out of the past 30 days palladium’s price has gone down 17 them.