Copper (HG1) Up $0.03 Over Past 4 Hours, Came Into Today Up For the 2nd Day In A Row; Price Base in Formation Over Past 30 Days

Copper Daily Price Recap

Copper came into today up 1.13% ($0.03) from the open of yesterday, marking the 2nd day in a row an upward move has occurred. Copper outperformed all 5 assets in the metals asset class since yesterday. Congrats to its holders! Here is a daily price chart of Copper.

HG1

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 up. Price action traders in particular will want to note that the 30 day period appears to show price forming a base; this could indicate that a support/resistance level is developing. Or to view things another way, note that out of the past 30 days Copper’s price has gone up 18 them.

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 StockShaman:

    #goldmansachs:
    “Next year, we expect the largest refined #copper market deficit (412kt) in over 15 years due to current positive demand trends.
    As a result, we have recently raised our copper price forecasts to $7,000/7,250/7,500/t on a 3/6/12m basis”
    $IMTFF IMT-TSXV

  • From nicoduck:

    @0x47DF this mist he old. nobody would be that stupid to waste so much money on cable nowadays, with the current copper price 😉

  • From BTee2wo:

    @dattosrule Once the copper price begins to kick, watch $PUA get moving. Gold + Copper deposits = Money for jam