Copper (HG1) Up $0.01 Over Past 4 Hours, Entered Today Up 0.43%; Pin Bar Pattern Appearing on Chart

Copper Daily Price Recap

The choppiness in the recent daily price action of Copper continues; to start today, it came in at a price of 3.1465 US dollars, up 0.43% ($0.01) since yesterday. Relative to other instruments in the metals asset class, Copper ranked 4th since yesterday in terms of percentage price change. Let’s take a look at the daily price chart of Copper.

HG1

Copper Technical Analysis

Trend traders will want to observe that the strongest trend appears on the 90 day horizon; over that time period, price has been moving up. Or to view things another way, note that out of the past 14 days Copper’s price has gone down 8 them. As for those who trade off of candlesticks, we should note that we’re seeing pin bar pattern appearing here.

Overheard on Twitter

Behold! Here are the top tweets related to Copper:

  • From BleekerJj:

    @doft1987 @ClassicValueInv Napkin $OCO valuation: at least 1000 M Oz at current copper price 3,14 USD per Oz minus Opex+Capex at 1,6 USD per Oz => total Net Asset Value of 2000 M. CAD. Total no of shares 169 million. Valuation of future Share Price at 50% of NAV is 2000/2 divided by 169 = 5,9 CAD at least

  • From TheMoneySponge:

    #ARCM #ARS JV partners/suitors will be very aware of the #copper price and where it’s going Asiamet should be first to seal the deal once complete a nice remaining stake in BKM and onto the potential 100k/t pa BeutongArc well if its what we think it is…

  • From mavericktradin1:

    #ARCM
    Increasing position size #ARCM
    £34 million Market Cap!! (Bargain Price)
    Exclusivity Agreement With Anglo American due to finish early January.
    2 Majors outside of Anglo American interested heightens pressure on Anglo American for deal.
    Clear upside on Copper Price – 2021.