Copper Enters Today Up 0.61%

The Daily View for Copper

  • At the time of this writing, HG1’s price is up $0.03 (0.61%) from the day prior.
  • This move is a reversal from the day prior, which saw price move down.
  • As for the trend on the daily timeframe, we see the clearest trend on the 20 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.

HG1

Featured Copper Idea From TradingView

Below is a trading comment entitled POTENTIAL TAPER EFFECTS ON FX you may find interesting:

TVC:DXY The Fed Chair, Jerome Powell has made all possible efforts to make the QE tapering a calm one and not cause knee-jerking reactions in the various markets as witnessed following Bernanke’s congressional testimony, yet, the effects will still suffice even if milder. Currency pairs of interest in the Forex market are most likely commodity currencies paired to the USD and precious metals especially Gold. Oil is at its highs and might be in danger as it’s already showing technical signs of a Sell-off. Since Oil is Canada’s main export, the appreciated USD, plus falling Oil prices might initiate a huge rally in the USDCAD pair which is currently reaccumulating. Metals (Iron Ore/ Copper) exports. Exports are generally affected by the USD as the base transactional currency. The AUD is enjoying gains from recent exports, buoyed economy testified by the RBA’s interest rate hike last week. However, the pair just concluded a rally slightly over a previous mid-range high forming another top. the taper effects could stimulate a Sell-Off or at least a deep retracement. Both currencies are safe-haven currencies. Meanwhile, the Yen is facing an internal risk of uncertainty as Japan is about to hold its elections. Elections pose uncertainty and are bad for any currency. Investors don’t want to take such chances. The USD on the other hand is about confirming a fully recovered economy with the tapering. This makes it the choicest with regards to the security of investments and even promising bett…

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