Copper Daily Price Recap
The back and forth price flow continues for Copper, which started today off at 2.9235 US dollars, up 0.85% ($0.02) from yesterday. Copper outperformed all 5 assets in the metals asset class since yesterday. The daily price chart of Copper below illustrates.
Copper Technical Analysis
Volatility for Copper has been contracting over the past two weeks relative to volatility over the past month. Whether volatility reverts will be something to watch. Trend traders will want to observe that the strongest trend appears on the 30 day horizon; over that time period, price has been moving up. For another vantage point, consider that Copper’s price has gone up 19 of the previous 30 trading days.
Overheard on Twitter
Over on Twitter, here were the top tweets about Copper:
- From JasonEBurack:
@spomboy Tough to keep consuming when many people don’t have jobs and the people who still have jobs have less discretionary income in aggregate. Forbearance period is ending for mortgages and car payments too. I am shocked at the rally in copper price given the abysmal auto sales numbers
- From MY21_Oracle:
@WrightmanAIM @RyJackman @shareGBP @TraderjohnBaker The incremental increase in NPV of BKM will be another catalyst for a deserved re-rating of this undervalued asset. Mr Market will soon re-evaluate esp as we have seen a near 45% rise in Copper price from 8th March-30th July 2020
- From ChrisyShields:
@macrodesiac_ Rising copper price with deficit of the material due to mining operations shutting and China demand, EV coming along with large copper usage, majors looking at lower grade pits being economical now. Copper is king! Btw the ticker – ARCM, take a peak