Copper (HG1) Down $0 On 4 Hour Chart, And A Link About Price Rise; in an Uptrend Over Past 90 Days

Copper 4 Hour Price Update

Updated December 11, 2020 01:56 AM GMT (09:56 PM EST)

Copper closed the previous 4 hours down 0.03% ($0); this denotes the 2nd candle in a row a decrease has occurred. Out of the 5 instruments in the metals asset class, Copper ended up ranking 4th for the four-hour candle in terms of price change relative to the previous 4 hours.

Copper Daily Price Recap

Copper is up 2.14% ($0.07) since yesterday, marking the 2nd straight day it has gone up. Relative to other instruments in the metals asset class, Copper ranked 3rd since yesterday in terms of percentage price change. Let’s take a look at the daily price chart of Copper.

HG1

Copper Technical Analysis

The clearest trend exists on the 30 day timeframe, which shows price moving up over that time. For additional context, note that price has gone up 6 out of the past 10 days.

Overheard on Twitter

Over on Twitter, here were the top tweets about Copper:

  • From steep_slopes:

    Current share price is mostly a result from higher copper price and roadshows, @OrocoCorp should take advantage from it and dilute at higher levels (1.80?) imho. Very, very unfortunate to see this (if rumours are true that is) happening… $OCO

  • From geo_meda:

    @Styledgentleman with placing now done and copper price rising. i can see that #SML will soon getting the attention of the herds of traders.time to accumulate SML while still cheap imho

  • From kjkant8193:

    @knoxcountyparks @Eli_A_Levine Wow! $20,000?! What is the street price for the stolen wiring? It cannot be more than the scrap copper price times the weight, I assume.

In terms of news links for Copper here’s one to try:

Goldman Sachs says copper price could hit $10,000 by 2022

13:24 Tue 08 Dec 2020 Castillo Copper progresses strategy to become mid-tier miner amidst strong copper market 2011 was the last – and only – time that copper has been in five figures, but market fundamentals are in place for increasing prices in the next 12 months….“We believe a significantly higher copper price is needed to help balance this structurally tight fundamental backdrop.” The predicted price rise is good news for Australian mid-tier copper hopeful Castillo Copper Ltd (ASX:CCZ) (LON:CCZ) (FRA:7OR), which recently returned impressive results from the Big One Deposit at its Mt Oxide Project in the Mt Isa copper belt.