The Hourly View for Copper
- Currently, HG1’s price is down $0 (-0.03%) from the hour prior.
- Copper has seen its price go down 5 out of the past 5 hours, thus creating some compelling opportunities for bears.
- As for the trend on the hourly timeframe, we see the clearest trend on the 20 hour timeframe.
- Price action traders may also wish to note that we see a pin bar candlestick pattern on Copper. Given that we see downtrend on the 20 and 5 hourly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting.
- The moving averages on the hourly 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.
Copper’s hourly price chart is shown below.
The Daily View for Copper
- Currently, HG1’s price is down $-0.03 (-0.54%) from the day prior.
- This is a reversal of the price action on the previous day, in which price moved up.
- 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 SNP Signalling Moves 2 Hours Prior – and why I am MAX short ETH you may find interesting:
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