Copper Has Now Headed Up 4 Out of the Past 5 Days

The Hourly View for Copper

  • At the time of this writing, HG1’s price is up $0 (0.05%) from the hour prior.
  • This is the 3rd hour in a row Copper has seen its price head up.
  • As for the trend on the hourly timeframe, we see the clearest trend on the 100 hour timeframe.
  • Most noteworthy in the world of moving averages on the hourly chart is that the 20 hour moving average has been crossed, so that price is now turning below it. 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.

HG1

The Daily View for Copper

  • Currently, HG1’s price is up $0.07 (1.67%) from the day prior.
  • It’s been a feast for bulls operating on the daily timeframe, as Copper has now gone up 4 of the past 5 days.
  • 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.

HG1

Featured Copper Idea From TradingView

Below is a trading comment entitled EURUSD FIST Analysis: Vaccination efforts & weak USD push higher you may find interesting:

The EUR/USD pair opened the trading week strongly as lower US yields put selling pressure on the US dollar in the early London session. Vaccination efforts in Europe and German politics (the Green Party announces their Prime Minister candidate) are also likely supporting the pair.Today’s light economic calendar doesn’t come with any major market reports. In the eurozone, the current account report missed expectations and came in at 25.9B vs 31.2B expected. However, the market reaction was rather muted. INTERMARKET: https://www.tradingview.com/x/emdDODAn/ 2-year yield differentials between German Bunds and US Treasuries follow the price-action nicely and support higher prices. SENTIMENT: Currency Strength Index: https://www.tradingview.com/x/R4cdgmyG/ Th…

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