Copper 4 Hour Price Update
Updated December 09, 2020 04:17 AM GMT (12:17 AM EST)
Copper closed the last 4 hour candle up 0.46% ($0.02); this denotes the 4th straight candle it has gone up. On a relative basis, the current 4 hour candle were pretty good: Copper bested all 5 of the assets in the metals class 🙂
Copper Daily Price Recap
Copper is down 0.19% ($0.01) since the day prior, marking the 2nd straight day a decline has happened. Relative to other instruments in the metals asset class, Copper ranked 4th since the day prior in terms of percentage price change. Let’s take a look at the daily price chart of Copper.
Copper Technical Analysis
The clearest trend exists on the 30 day timeframe, which shows price moving up over that time. For another vantage point, consider that Copper’s price has gone up 18 of the previous 30 trading days. And for candlestick traders, a special treat: there is a pin bar pattern showing up on the charts as well. Rejoice!
Overheard on Twitter
Behold! Here are the top tweets related to Copper:
- From BleekerJj:
@calichebahada @OrocoCorp Valuation estimation of $OCO:
1000 M Oz at copper price 3,4 USD per Oz minus Opex+Capex at 1,7 USD per Oz => total Net Asset Value of 1700 M. USDl. Total no of shares 170 million.
So valuation of future Share Price at 50% of NAV is 1700/2 divided by 170 = 5 USD.
- From adstrader:
@Trisseswe @SheldonW65 We’ve also seen a big move up in the $copper price since then, which I’m sure will help #ARCM in negotiating a deal with Anglo American #AAL
- From confluencetradr:
Waiting patiently for the bullish trigger on #BZT which will happen once 0.32p breaks. It should come soon with Copper price rising..