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 2.384 US dollars, up 1.51% ($0.0355) since the previous day. Copper outperformed all 5 assets in the metals asset class since the previous day. Congrats to its holders! Here is a daily price chart of Copper.
Copper Technical Analysis
First things first: Copper crossed above its 50 day moving average yesterday. 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 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. So if you expect the primary trend to resume, the counter trend may be providing an opportunity to sell rallies. For additional context, note that price has gone up 8 out of the past 14 days.
Overheard on Twitter
Behold! Here are the top tweets related to Copper:
- From geigercounting:
@TheWealthMiner @merlinmj71 You’ll see that at current copper price NPV is US$225m on 100% basis. And that’s at $1350 gold. So Salazar is valued at 0.25x NPV of its 25% stake at spot Cu and $1350 Au. Not unreasonable for a 30%+ IRR project and the free carry to production. Rest of co comes for free
- From gold123win:
#BTGroup #Shares so undervalued a suitor should come to the rescue of shareholders Why U may ask BT have a huge earner for replacing copper with fibre for broadband Copper price per tonne £4144 BT have tons of it to be recycled for cash OK @FT @Telegraph @EUtopean @DailyMailUK
- From gold123win:
Will any suitor takeover this sleeping UK Telecoms Giant #BTGroup Share Price £1.20 so undervalued read previous tweet BT’s “HiddenWealth”Copper Price £4144 a tonne I believe a complete breakup isthe only solution for return of shareholders investment 5 yearsago Share Price £4.99