Copper (HG1) Fares the Worst Out of metals, Down 0.25%; And A Story About Scrap Prices

Copper Daily Price Recap

The back and forth price flow continues for Copper, which started today off at 2.416 US dollars, down 0.25% ($0.006) from yesterday. Those trading within the metals asset class should know that Copper was the worst performer in the class today. The daily price chart of Copper below illustrates.

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 down. It should be noted, though, that a trend in the opposite direction, going up, exists on the 30 day timeframe. This may setup an interesting opportunity for traders looking to sell rallies in anticipation of the primary trend resuming. For another vantage point, consider that Copper’s price has gone up 8 of the previous 14 trading days.

Overheard on Twitter

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

  • From Riz29LSE:

    #pere with low mc, copper price going up, plus director buy . This is bargain at current price .

  • From BATTcables:

    Copper price on 18 May 2020, £4,319.51 per tonne.

  • From BATTcables:

    Copper price on 19 May 2020, £4,342.57 per tonne.

As for a news story related to Copper getting some buzz:

LIVE FUTURES REPORT 18/05: LME copper price tops complex in 1.9% rally; 17.5kt zinc freshly canceled at Vlissingen | Metal

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