Copper Daily Price Recap
Copper came into today up 1.38% ($0.032) from the open of yesterday, marking the 2nd day in a row an upward move has occurred. On a relative basis, today was pretty good: Copper bested all 5 of the assets in the metals class 🙂 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. The clearest trend exists on the 14 day timeframe, which shows price moving up over that time. For additional context, note that price has gone down 16 out of the past 30 days. Also, candlestick traders! Note we see pin bar pattern appearing here as well.
Overheard on Twitter
For laughs, fights, or genuinely useful information, let’s see what the most popular tweets pertaining to Copper for the past day were:
- From FBS_marketnews:
“Copper Price Forecast: Signals & Chart Levels to Keep in Focus”Last Week, Copper rallied to a multi-week high. Will Bulls keep controlling the price action or will bears comeback?