The Hourly View for Copper
- At the time of this writing, HG1’s price is down $0 (-0.09%) from the hour prior.
- It’s been a feast for bears operating on an hourly timeframe, as Copper has now gone down 4 of the past 5 hours.
- If you’re a trader with a preference for rangebound markets, you may wish to note that there isn’t a clear trend on the 20, 50 and 100 hour timeframes.
- Most noteworthy in the world of moving averages on the hourly chart is that the 50 hour moving average has been crossed, so that price is now turning below it. The moving averages on the hourly timeframe suggest a choppiness in price, as the 20, 50, 100 and 200 are all in a mixed alignment — meaning the trend across timeframes is inconsistent, indicating a potential opportunity for rangebound traders.
Copper’s hourly price chart is shown below.
The Daily View for Copper
- At the time of this writing, HG1’s price is up $0.01 (0.28%) from the day prior.
- This is a reversal of the price action on the previous day, in which price moved down.
- If you’re a trend trader, consider that the strongest clear trend on the daily chart exists on the 100 day timeframe.
- The moving averages on the daily timeframe suggest a bullishness in price, as the 20, 50, 100 and 200 are all in a bullish alignment — meaning the shorter durations are above the longer duration averages, implying a sound upward trend.
Below is a daily price chart of Copper.
Featured Copper Idea From TradingView
Below is a trading comment entitled XAUUSD Commodity Overlook you may find interesting:
Silver troy ounce (31.10 gram) 27.975 USD (percentage of 0.9, Strong Buy signaling) and Platinum , 1151.1 USD (-0.98 of pct, Buy). Ounce palladium 2781 USD (%-0.93) costs for traders.Copper 1 pound (0.4535 kg), 4.526 USD (with the percentage of -0.66, Neutral) is being traded at the time written. Besides this, XAUUSD, spot gold (oz), 1893.9 USD (%-0.03, Buy) is going along its trendline.American Dollar…